Europe's Room Rates Still Above 2019 Prices for Half-Empty Hotels
Skift Take
Many predicted business travelers would cut back on the number of trips they take, opting for longer stays instead. That prophecy's come true, with five-star hotels benefiting most from their higher rates.
Despite being half-empty, Europe’s hotels are charging more than they were before the pandemic.
On average, room rates are $31 more expensive, according to auditing and booking platform Tripbam, which has compared corporate booking data from February 2021 to the same month in 2019, when the average rate was $216. This is despite volumes remaining depressed at about 50 percent down on comparable 2019 levels, for Europe, the Middle East and Africa.
“Bearing in mind we’re at about 50 percent volumes, the fact the hotels are managing to hold up such a rate is quite phenomenal,” said Peter Gover, Tripbam’s European managing director, during a webinar that also looked at data across Asia Pacific. That region recorded
