Moscow hotels out-price New York

Moscow remains the world’s most expensive destination for business travel ahead of New York, following a 93% rise in hotel room rates since 2004.

But Mumbai, formerly Bombay, saw the biggest increase in room prices in 2007 with a rise of 37%, according to a survey by travel management company Hogg Robinson Group (HRG).

The annual HRG Hotel Survey, which looked at rates in 50 leading business cities, found the rises for UK corporations partially offset by the exchange rate of Sterling. A 24% rise in hotel prices in Johannesburg equated to a 10% increase in Sterling, for example.

Only one in ten of the cities showed a decline in room rates last year. Prices in Philadelphia fell 5% and there was a similar decline in India’s technology capital Bangalore. Tokyo saw a 2% fall and prices also fell slightly in the UK, in Bristol and Liverpool.

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