The average cost of rooms at hotels in the UK plummeted by more than 10 per cent year in 2016 when compared to the previous year. Hotel reservations website HRS ran a comparison on room rates for 2015 and 2016 and found that on average they had dropped by around 12 per cent in 2016.
Hotel industry analysts blamed the plummeting rates on the UK’s Brexit vote. Figures released by HRS last November seem to bear this out. HRS analysts compared 2016 quarter three rates with the same period for the previous year and found they were a full 20 per cent lower.
The latest year-on-year survey found that hotel room rates fell in every major city in the UK. In London, rates dropped from £146 to £127. This means the capital relinquished the dubious honour of being the most expensive city in Europe to spend a night. Zurich currently holds the title with median rates of £154.
In the northwestern cities of Liverpool and Manchester, average rates dropped from £100 to £89, and £111 to £102 respectively. In Birmingham, the drop was less significant as 2015 prices of £100 had only fallen to £95 by the end of 2016.
In 2016, Edinburgh was the second dearest city in the UK to spend a night. Even here rates fell by more than 10 per cent from £119 to £107. Cheaper hotel rates is good news for Britons planning on alleviating the decline in the value of sterling with a staycation.