Hotels are enjoying huge profits thanks to soaring prices, according to the latest survey by hotel insight business Hotstats.

Throughout Europe hotels reported an overall increase in achieved room rates of 11.3 percent in July, leaving holidaymakers and businesses sending their staff on business trips out of pocket. Profits at hotels are also increasing in line with the rise in room costs, with hotels reporting a 16.9 percent year-on-year increase in profits for the month.

The report stated: “Profit levels remained heady in July at €83.70 per available room, which was equivalent to a profit conversion of 41.8 percent of total revenue.”

In addition, the latest Global Travel Forecast Report by Carlson Wagonlit travel predicts further hotel price rises in 2019.

The news that hotels are continuing to reap the benefits of sky-high prices is driving more and more people to book serviced accommodation in Windsor and elsewhere, as they realise that self-catering apartments often offer far better value for money.

“It’s no surprise to us that hotels are continuing to charge higher and higher rates for their rooms,” commented Accommodation Windsor’s Managing Director Nigel Holder. “That’s why we offer a genuine alternative for business traveller and tourists who want a quality, spacious stay in Windsor without paying through the nose.”