Dubai is World's Second-Most Expensive Hotel Market
If you’re on a budget, you might want to re-think your options if Geneva (average cost of a hotel for a night Dhs1,130), Dubai (Dhs1,000) or Kuwait City (Dhs930) are on your itinerary. Other hotspots to avoid would be Zurich (Dhs920) and boutique hotel haven Miami (Dhs900). Why not opt for Hanoi? At Dhs228, it was the bargain hotel destination among the 106 international cities covered by a new hotel price index compiled by Bloomberg.
The study highlighted that scarcity of land that caused high barriers to entry was the primary factor in determining the pricing of hotels; hence tiny Geneva, with its plethora of luxury five-star hotels and primarily business-based travel leading the pricing pack and picturesque Edinburgh (Dhs885) beating bustling London (Dhs860) when it came to coaxing you to part with your dirhams. Geneva’s hotels worked out to be 32 per cent more expensive than New York and London and 28 per cent pricier than Hong Kong.
New York (Dhs855) has had hotels opening with a vengeance; hence Miami is dearer when it comes to room pricing whilst you’ll have to splash considerably more cash in Hong Kong (Dhs890), which ranked sixth overall, than any other Asian-Pacific metropolis.
If you are a big spender, staying only at the best-of-the-best super luxury spots, then Geneva (Dhs2,255) yet again ranks costliest for five-star properties with Los Angeles (Dhs1,765) coming second and Tokyo (Dhs1,620) coming in third.
INFO: Bloomberg’s rate calculations were taken for two blocks of time, 1-10 Aug 2014 and 1-10 Feb 2015 to account for holiday, promotion and convention-related pricing.