The Ibis situated on South Bridge, offered rooms on New Year’s Eve starting from £400.
As reported, the rates over New Year’s Eve represented an increase of 344% from those offered by the same hotel a week prior.
Despite a study finding that Edinburgh is second only to Amsterdam in a list of Europe’s most expensive destinations for overnight stays on December 31, Ibis insisted that their rates for the period remained competitive.
A spokesperson for the hotel said: “Room prices for New Year’s Eve at the ibis Edinburgh Centre South Bridge started at £155, reflecting excellent value for money, especially for those booking well ahead and direct on the ibis website which offers a best price guarantee for its rooms.
“It is an extremely popular and well-reviewed hotel, rated 4/5 by guests on TripAdvisor, and the average room rate across New Year’s Eve was £249 representing good value for one of Edinburgh’s busiest dates.”
“Hotel room prices always vary depending on supply and demand and we constantly monitor our rates to ensure they remain competitive on any given night. Naturally at New Year, many have planned and booked ahead so in the last few days before the big night, demand for quality hotels in premium locations is exceptionally high.”
The price from Ibis was criticised by many inclduing Economy Convener for Edinburgh Council Gavin Barrie who said the city’s hoteliers may ‘reap what they sow’ when it comes to pricing in the Capital.