For the ninth consecutive year, Moscow hotels ranked as the most expensive in the world for business travelers, followed by Lagos, Nigeria, and New York City.
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.