Hotels show first signs of recovery_2
17 August 2012
Room rates at lower and mid-range European hotels are showing the first overall increase since last September’s US terrorist attacks, rising by 2 per cent in the first quarter of 2002.
According to the latest American Express figures, average room rates for mid-range hotels were £122 in Amsterdam, £70 in Madrid and £115 in London.
Prices at upper-range hotels recorded a 3 per cent rise.
Annual rates for mid-range hotels - the barometer for business travel as executives seek to downgrade to save money - rose by 3.3 per cent across Europe...