The average hotel prices in European cities have fallen sharply. This includes such big cities as Barcelona, Rome, and Madrid, which are known for bringing in a lot of tourists. Reports go on to show that hotel prices have fallen by an average of about seven percent just during July when compared to the same month last year.

A recent study that was done on 50 plus cities found that 38 of them had an average room rate that either fell or stayed the same for all the hotels. The biggest drop in price was found in Madrid. Here the average room rate for hotels was around £74. This is a 31 percent drop in price when compared to July of 2008. Prices in Barcelona dropped by 28 percent as well when compared to last year. Other places like Amsterdam, Lisbon. Oslo, Rome, Turin, and Bologna also reported sharp drops.

Although this may be bad for the hotel industry, the falling prices are likely to really benefit the few people who are actually traveling and are planning on making last minute bookings this summer. All over continental Europe, prices are falling and great prices are being given out on rooms that may use to have been out of travelers’ price range. Room rates will not stay down forever, so travelers that want to take advantage of it should act soon.

Of course, there is one European city, which for whatever reason posted a rise in room rates. This would be Geneva, and it showed that its room rates were up by 10 percent when compared to July of 2008.