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Tough weather hits hotel business

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The Boscolo Carlo IV Hotel in Prague

Tough weather, weather warnings and cold temperatures have sent hotel prices tumbling in Europe in January–February, Ftnnews reports. Among the hard-hit cities are Eastern European ones such as Prague, with prices down 26 percent, Istanbul, down 5 percent, and Budapest, down 6 percent, the web site says. Adding to the trend is the unexpectedly snowy Greek capital of Athens, the epicenter of the eurocrisis. Budapest is down 3 percent compared to February 2011, and Athens is down 12 percent compared to the same period. In Prague, an overnight stay in a standard double is at its lowest reported level since March 2011, according to Ftnnews.

The Editorial Staff of