Hotel prices for the Easter holiday period are skyrocketing, far beyond just inflation rates, according to a recent report from Mabrian. The travel intelligence provider has conducted a hotel price analysis of 20 destinations in Europe, showing that prices are on the rise across all categories and in all destinations, except for Naples, Tirana and Budapest – where the prices of five-star hotels have experienced a slight decline of 1%, 3% and 5%, respectively.
“While it is clear that hotel prices are rising sharply, we must look at this rise in the context of inflation and rising supply costs across the board. In addition, we have to take into account the increase in staff operating costs, due to the lack of manpower and the necessary improvement in conditions. All this is combined with a strong demand for travel during this period, which pushes prices up”, Carlos Cendra, Director of Marketing & Sales at Mabrian commented on the report.
The average price increase across all categories is significantly greater than the annual inflation rate, based on February 2023 published prices for a stay between the 10th and the 17th of April, for all destinations except Budapest and Tirana, where the annual inflation rate is higher than the average price increase for this period.
In general terms, Barcelona, Brussels and Rome are the destinations with the highest increase in hotel prices, ranging from 30% to 33% on average, Barcelona being the city where prices have increased the most compared to Easter 2022, with a 43% increase in prices for three-star hotels. Meanwhile, Ljubljana, Madrid and Tirana are destinations where the price increase is lower.
In 4-star hotels, the highest growth is in Brussels, with a 34% increase. And in the most luxurious category of 5-star hotels, Paris stands out, where the average price is 30% higher than last year, while Zagreb, Warsaw and Tirana are the destinations that offer the most competitive prices for all three categories of hotels for the Easter holiday period.