Hotel prices have increased across Europe this month, with a particular surge in Lisbon ahead of the Champions League final, according to the trivago Hotel Price Index (tHPI) released monthly by hotel search site www.trivago.ie.
Based on the 50 most popular European cities on trivago.ie, the average hotel price across Europe has increased by 11% this month. Over the same period, the average hotel price in Lisbon has risen by 35% to €147, peaking at €1,428 on the night of the Champions League final.
Champions League final: marked increase in Lisbon
The average hotel price in Lisbon has risen by up to 35% this month for the final of the Champions League, which will be held on Saturday 24th May. On the night of the match, a standard double room in the capital will cost an average of €1,428 (as of 1st May) compared to the average May price of €147.
The average price for 24th May throughout April was €360, which increased to €581 in the final week of the month, before reaching €1,428 on 1st May. This equates to an increase of 297% in 30 days and 146% in just 7 days.
Unsurprisingly, hotel availability on the night of the final has also decreased dramatically, standing at just 6% as of 1st May.
Dublin hotel prices rise too:
Dublin hotel prices have also risen in May as the city hosts its own festival – the Dublin Gay Theatre Festival. The average hotel price in the capital is €131 this month – an increase of 27% from April’s €103 average. Hotel prices are also up 16% in comparison to May 2013 – one of the highest year-on-year increases in Europe.
Sports followers visiting other regions in Ireland have also seen a marked year-on-year increase, with hotel prices rising in Killarney (up 17% to an average of €116), Galway (up 12% to €102) and Waterford (up 12% to €91). In addition, the average hotel price for the top 10 destinations in Ireland has increased by 10% from €97 in April to €107 in May.
John Pilkington, Trivago Public Relations UK & Ireland, comments, “It’s common to see hotel prices rise sharply during popular sporting events, but at almost ten times the monthly average, the increase seen in Lisbon for the Champions League final easily surpasses the rise we have seen for the 2014 World Cup in Brazil. Coupled with availability in the city at just 6%, it’s likely visitors will struggle to find accommodation in Lisbon on the night of the match.
Unsurprisingly, hotel prices across Europe have also risen this month as we head into summer and travellers look to make the most of the improved weather.”