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According to a recent survey hotel prices in Europe have dropped by up to seven percent this summer. The price comparison site Trivago carried out the survey which involved data from fifty popular European locations.

The results showed that thirty eight of the locations had seen a drop in hotel rates or had seen no change. Madrid in Spain showed the biggest decrease recording a thirty one percent drop in average rates. Some other cities which also offered cheaper rates compared to last year were Lisbon, Amsterdam, Bologna and Oslo.

This news certainly plays into the hands of bargain hunters who leave it late to book accommodation. Hotels will be looking to fill rooms and may offer cheaper rates to do so. An improving sterling rate may also help you to go easy on the wallet.

Elsewhere in Spain Valencia also showed a large drop in hotel prices at twenty three percent. Geneva was the major mover in the opposite direction showing a ten percent increase in prices.