MILAN has the dubious honour of being the most expensive city in the world for business travellers according to a survey by the travel management company BTI. London with an average room rate of ”122.50 is 5% down on last year and is now not considered as even in the top ten in terms of cost. Milan is priced at ”148.09 (+6%), followed by Paris (”147.62 +9%) and New York (”144.22 down 11%). In 2002 Rome topped at the list at ”177.60, a 22% drop now gives it 4th place. The continued economic slowdown and resultant focus on travel expenditure is clearly demonstrated by the decrease in both volume and average room rates across many US cities. Despite the best dollar/sterling exchange rate in some years, demand for rooms in New York was still down in 2003. Hotels in New York have become very competitive, offering excellent tactical rates to encourage business, and as a result average room rates were also down ”162.41 to a more respectable ”144.22.
http://www.bti.co.uk