American Express Business Travel reported lower average daily hotel rates paid by clients in 30 of 48 analyzed European markets

, including the financial centers of Edinburgh, Frankfurt, Geneva, and London. The largest year-over-year declines included Paris (down 37 percent) and Rome (down 32 percent). Average daily rates moved higher year over year in the oil markets of Norway and Aberdeen, as well in the German industrial cities of Cologne, Dusseldorf and Hannover.