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Top 10 most expensive cities to stay in and their average hotel room rate:
1. Moscow, Russia: US$407
2. Lagos, Nigeria: US$341
3. Geneva, Switzerland: US$340
4. Zurich, Switzerland: US$332
5. Rio de Janeiro, Brazil: US$323
6. New York City, New York: US$320
7. Sydney, Australia: US$312
8. Hong Kong, China: US$306
9. Paris, France: US$304
10. Washington, D.C, United States: US$302
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The world's most expensive cities for hotels
Geneva, Dubai and Kuwait have been ranked the most costly cities for hotel rooms. According to Bloomberg, the average cost for a night in Geneva is $308, followed by Dubai ($273), and Kuwait City ($253). See who else made the list.
20. Tokyo, Japan
Average Hotel Cost: $198
The Japanese capital is the most crowded urban area in the world and is considered an Alpha+ world city, according to Globalization and World Cities Research Network (GaWC) in 2008.
19. Jerusalem, Israel
Average Hotel Cost: $203
Being one of the oldest cities in the world, Jerusalem is considered holy to the three religions—Judaism, Christianity and Islam.
18. Riyadh, Saudi Arabia
Average Hotel Cost: $205
Riyadh is the capital and largest city of Saudi Arabia. It houses Princess Nora Bint Abdulrahman University, said to be the world's largest female-only university. Football is the most popular sport in the country.
17. San Francisco, USA
Average Hotel Cost: $211
Founded on June 29, 1776, San Francisco is a popular tourist hub with an eclectic mix of architecture. In the 1960s it was the center of the flower power movement, and still has a relaxed cosmopolitan vibe.
15. Sydney, Australia
Average Hotel Cost: $221
Sydney boasts a progressive economy across various sectors including finance and tourism The city had a gross regional product worth $337.45 billion in the year 2013, in turn emerging as a far bigger economy in comparison to Denmark, Singapore, and Hong Kong.
14. Tel Aviv, Israel
Average Hotel Cost: $223
After Jerusalem, Tel Aviv is Israel's second most populous city and the financial capital. It is also known as the city that never sleeps and is the fifth most visited city of the Middle East.
13. Doha, Qatar
Average Hotel Cost: $226
Doha is Qatar’s largest city and one of the world's fastest developing. The city has been witnessing a boom in its real estate empire, with a host of skyscrapers. It was included amongst the 15 best new cities for business by Fortune magazine in 2011.
11. Rio de Janeiro, Brazil
Average Hotel Cost: $231
Rio de Janeiro is the second largest city in Brazil, and was founded in 1565 by the Portuguese. It also houses a giant statue of Christ over the Corcovado Mountain, which has been named as one of the New Seven Wonders of the World. The city will be hosting the 2016 Summer Olympics, the first time a Portuguese-speaking nation has done so.
10. Paris, France
Average Hotel Cost: $232
Founded in the 3rd century BC, Paris has one of the largest GDPs in the world. It is also the third largest tourism earner world over and hosts the headquarters of 29 of the Fortune Global 500 companies. It is known for its art, museum, fashion houses and architecture.
10. New York, USA
Average Hotel Cost: $233
New York is the world’s third most populous and 27th most extensive city and was admitted to the Union of states in 1788.
8. London, UK
Average Hotel Cost: $235
The UK capital is home to nearly 13 million people and has one of the top six metropolitan area GDPs in the world, besides housing the largest city airport system. It was the first ever city to have hosted the modern Summer Olympic Games three times.
7. Edinburgh, Scotland
Average Hotel Cost: $241
Edinburgh is the seventh most populous city in the UK and became the world’s first UNESCO City of Literature in the year 2004. It is also the biggest financial center after London.
6. Hong Kong, China
Average Hotel Cost: $242
It is one of the Alpha+ cities and has been ranked as the fifth most-important city in the world in 2014 Global cities index, closely following New York City, London, Tokyo and Paris. It has one of the highest per capita incomes in the world.
5. Miami, USA
Average Hotel Cost: $245
Miami is the 42nd most-populated city in the USA and is a major hub for economy, commerce, media, entertainment, art, culture and trade exchanges. Moreover, the Port of Miami, which is also called the “Cruise Capital of the World,” accommodates some of the world's largest cruise ships and has been the number-one cruise passenger port for more than two decades.
4. Zurich, Switzerland
Average Hotel Cost: $250
Zurich is the largest city in Switzerland and has a 2000-year history, dating back to the Roman Empire. It has also topped surveys for best quality of life.
3. Kuwait City, Kuwait
Average Hotel Cost: $253
Kuwait City was ranked as one of the 25 largest GDP cities in the world in the year 2012, alongside New York, Tokyo, Moscow and Mumbai, and boasts of a population of 2.38 million.
2. Dubai, UAE
Average Hotel Cost: $273
Dubai is the most populous city and emirate in the United Arab Emirates (UAE). The city earns its top revenue from tourism, real estate, financial services and aviation industry.
1. Geneva, Switzerland
Average Hotel Cost: $308
The second most-populous city in Switzerland, Geneva has close to 82 heritage sites listed as being of national significance. According to a survey by Mercer in the year 2009, Geneva was said to be the city with the third-highest quality of life in the world. For more details, visit Bloomberg's World Hotel Index here.
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Hotels in Moscow are by far the world's most expensive and have been so for nearly a decade, according to a biannual study by Hogg Robinson Group (HRG).
Out of 50 major travel destinations surveyed, the Russian capital has had the highest average room rate for eight years straight.
Visitors typically pay about US$407 a night at a Moscow hotel.
In our list of the world's 15 most expensive hotel suites, we found that the Ritz-Carlton Suite costs US$18,000 per night.
Travel marketer Viacheslav Shirokov says that hotel demand is simply much higher than supply in Moscow and there is a lack of mid-range hotel options.
Lagos is second on the list of most expensive hotels with an average room rate of US$341.
Security is a concern in these destinations, especially in Lagos where travelers are willing to pay a higher room rate for a five-star hotel.
These top cities are also business hotspots catering to corporate travel. The survey is indicative of where companies are channeling their travel budgets.
"Businesses are not necessarily spending less on travel, but they are certainly looking for ways to make existing budgets work harder," says Stewart Harvey, group commercial director at HRG.
European cities show a decrease in room rates amid an uncertain economic climate, particularly in Barcelona where prices dropped by nearly a quarter.