Tourism data company Mabrian, analysed hotel prices in top European destinations in August and compared them with local inflation rates. In the study they found that, although hotel prices have risen in 2022, and even taking into account inflation, they continue to be lower than those recorded in 2019 in the main European tourist destinations.
The recent rise in prices in three- and four-star hotels in Spain, Portugal, France and the United Kingdom, as well as in four- and five-star hotels in Italy, is below inflation levels, “which demonstrates a drop in the real price of hotels”.
In both Italy and the United Kingdom, the most significant price increase is seen in three-star hotels, while in Greece, France, Spain and Germany, the most evident increase occurs in five-star units.
“Through this analysis we can verify that the comparison of prices between years can be illusory in the current context of instability. In Europe we are not used to dealing with these inflation rates. Right now, it's important for the tourism industry to focus on profit metrics like RevPar and GrossPar, rather than price and occupancy. The average daily rate (ADR) is highly compromised by the evolution of inflation and other macroeconomic factors, such as exchange rates”, said Carlos Cendra, director of marketing and sales at Mabrian.