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Sporting events have positive impact on hotel prices

  • Published by Vedat
Sporting events around the world and hotel prices are positively correlated. Wimbledon Tennis Championship have raised hotel prices in Wimbledon, UK and hotel prices have increased in the Australian cities of Brisbane, Melbourne and Sydney for the British Lions rugby matches.
wimbledon-courtAccording to the trivago Hotel Price Index (tHPI) reported monthly by hotel comparison website www.trivago.co.uk, hotels directly surrounding Wimbledon have raised their prices by an average of 70 per cent for the Tennis Championships.

One night during the Championships (Monday 24th June to Sunday 7th July), will cost an average of £322 in the area directly surrounding Wimbledon. This is a 70 per cent increase from the preceding week, when one night will cost an average of £190. The most expensive day to book is Tuesday 25th June, when hotel prices are up by 190 per cent to an average of £550 for one night.

These dramatic increases only apply to the area directly surrounding Wimbledon. Hotel prices in the entirety of London are up by just 9 per cent during Wimbledon, from an average of £200 per night in the week preceding the Championships to an average of £217 during the Championships. The most expensive days to book are Saturday 29th June (average of £269 for one night), Saturday 6th July (£255 for one night), Wednesday 26th June (£240 for one night) and Tuesday 25th June (£239 for one night).

UK Hotel Prices Increase by up to 19% Year on Year

Across the UK, hotel prices have increased by up to 19 per cent in comparison to this time last year. Compared to June 2012, the most significant increases can be found in Sheffield (up 19 per cent to an average of £80 per night), Manchester (up 16 per cent to £113 per night), Birmingham (up 14 per cent to £75 per night), Cardiff (up 13 per cent to £96 per night) and Glasgow (up 10 per cent to £88 per night). Hotel prices in many of these locations have also increased in comparison to last month, suggesting hoteliers are trying to profit from the summer season earlier than usual. This could be attributed to unseasonably good weather during May.

Hotel Prices in Summer Destinations Increase by up to 91% Month on Month

European summer destinations popular amongst British holidaymakers have increased their hotel prices in anticipation of the summer season. Out of the 100 most popular summer destinations on www.trivago.co.uk, hotels in Spain’s Magaluf are showing the largest price increase in comparison to last month. One night in June will cost an average of £111 per night, which is a 91 per cent increase from £58 per night in May. This is a 33 per cent increase from this time last year (one night in June 2012 cost an average of £83 per night), suggesting hotel prices are abnormally high for June. Other resorts showing similar price increases in comparison to May are the Spanish destinations of Santa Ponsa (up 77 per cent to £94 per night), Playa d’en Bossa (up 75 per cent to £114 per night) and Palmanova (up 47 per cent to £97 per night).

Although Spanish hoteliers appear to be raising their hotel prices, some Spanish holiday destinations still present the best value for money this month. Out of the 100 most popular summer destinations on trivago, Puerto del Carmen has the cheapest hotel prices (average of £45 per night), followed by San Antonio (£50 per night), Alicante (£61 per night) and Malaga (£66 per night). In comparison, Italian holiday destinations are amongst the most expensive this month. One night in Florence will cost an average of £143 in June and one night in Sorrento will cost an average of £139. Marbella in Spain is also one of the most expensive holiday destinations this month (up 26 per cent from May to an average of £135 per night), perhaps due to recent television coverage in The Only Way Is Essex.

Hotel Prices Increase by up to 70% for the British Lions in Australia

Hotel prices have increased in the Australian cities of Brisbane, Melbourne and Sydney for the British Lions over the next few weeks. The rugby match will take place on Saturday 22nd June in Brisbane, where hotel prices have increased by 70 per cent compared to the preceding week, to an average of £197 for one night. Melbourne will welcome the Lions the following Saturday 29th June, where hotel prices have increased by 21 per cent to an average of £135. On Saturday 6th July, Sydney will host the final match and hotel prices will increase by 37 per cent to £151 for one night.
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