The ranking, based on an annual survey by U.K.-based Hogg Robinson Group, a travel, expense and data management firm, concluded that hotel rates around the globe grew by an average of 1.4% last year, compared to a 1% increase in 2011.
(In the U.S., hotel rates jumped 4.2% in 2012, to an average of $106 per night, according to STR, formerly known as Smith Travel Research.)
But business travelers on a tight budget might want to stay clear of Moscow, where a room last year cost a whopping average of $414 per night, according to the travel company. A hotel stay in Lagos cost $361 a night last year and $350 for a night in New York, according to the survey.
The cheapest hotel rates among major business centers were in Hyderabad in southeast India, where rates dropped from about $162 in 2011 to about $140 last year, according to Hogg Robinson Group.
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