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August tHPI: Madrid and Paris see the highest month-on-month drop in hotel prices

DUSSELDORF, GERMANY – Most of the European capitals decrease the hotel prices in August 2019, with Madrid recording the highest drop of 12% compared to last month. On the contrary, Istanbul registers the sharpest increase of 8% in hotel prices for the month of August among the cities listed on the trivago Hotel Price Index (tHPI), reported by global hotel metasearch trivago.com

Madrid sees the sharpest drop in hotel prices this month on the tHPI, with its average rate for a standard double room reaching 79 euros per night, a decrease of 12% from July. Paris follows with a 10% decrease compared to July, with its average hotel price now at 124 euros per night. Average hotel prices in Dublin drop as well, decreasing by 10% this month compared to last to reach 148 euros for a standard double room per night. Santiago and Brussels report month-on-month decreases of 9% each, which translate into 72 euros and 91 euros for a standard double room per night respectively. On the contrary, the city with the highest month-on-month hotel price increase reported on the tHPI in August is Chicago, where travelers will now pay 166 euros on average for an overnight stay in a standard double room, a 19% increase this month compared to last. Sydney follows with a 10% increase compared to last month, which translates into 123 euros for an overnight stay.

Year-on-year comparison in hotel prices in Europe
Most European cities listed on the trivago Hotel Price Index register a year-on-year increase in their hotel prices this August. The average overnight rate for a standard double room in Istanbul is now 78 euros, a 15% increase compared to August 2018, making it the city with the sharpest year-on-year hotel price increase this month. Brussels follows with a 14% year-on-year increase, which translates into 91 euros for a standard double room per night. Vienna holds the third place with an increase of 14% compared to August last year wherein an average hotel rate now stands at 109 euros for an overnight hotel stay. At the other end of the spectrum lie Reykjavik and Dublin, the cities with the sharpest decrease in hotel prices on a year-on-year comparison. Travelers visiting the capital of Iceland will pay 148 euros for a standard double room for an overnight stay, a decrease of 22% compared to last year. Dublin reports a decrease of 6% compared to August 2018, which translates into 100 euros per night. Both Lisbon and Amsterdam register a decrease of 2% compared to the same month of last year, which translates into 103 euros and 144 euros respectively.

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