Hotel prices in Moscow (pictured) and Kiev have tumbled due to the impact of the ongoing crisis in Ukraine during the last few months.
Average hotel prices in Moscow fell by 18.5% to £119.29 in March, according to hotel.info’s monthly price barometer, while the cost of rooms in Kiev dropped by 31.5% to £61.32 compared to the same month in 2013.
Moscow had been the most expensive European city for hotel rooms a year ago with an average room rate of £146.50 but now it only ranks in fourth place behind the Nordic capitals of Stockholm, Oslo and Helsinki.
The main reason for the reduction in hotel rates has been the strengthening of the pound against both the Russian and Ukrainian currencies.
Ralf Priemer, who is in charge of international hotel sales for hotel.info, said: “Despite the currency effect we have seen a marked decline in bookings for hotels in Kiev.
“As a result of the disturbances and the continuing uncertainty many tourists and business travellers are staying away from the Ukrainian capital.”
London hotel prices have remained stable over the same period – only rising by 1% to an average of £116.77 in March. The UK capital is still ranked as the fifth most expensive city among major European destinations.
Elsewhere in the UK, Birmingham saw a major increase in room rates of 18.5% in March to £80.17 from last year’s figure of £67.64, while Glasgow rates dipped by 1.9% to £79.43 per room.
Outside Europe, hotel prices continue to be high in Sydney with an average rate of £151.23 – despite a 6.9% fall year-on-year.
But New York has become significantly cheaper thanks to a stronger pound with a 29.9% drop in rates to an average of £122.03 compared to a price of £174.06 in March 2013.