Moscow during the first half of 2008 retained its spot as the major city with the most expensive corporate hotel rates

With an average room rate of £299.86 (US$598.35), , according to HRG. It was followed by Mumbai £204.13 (US$407.33), Paris £195.34 (US$389.79) and Milan £195.26 ($389.63). Ranked second in 2007, New York slid to eighth at £181.74 (US$362.65). "The international hotel market continues to be resilient with most regions seeing an increase in average rates in the first half of 2008 as demand continues to outstrip supply," according to a statement from HRG global hotel relations director Margaret Bowler. "However, we are increasingly seeing rates level off in certain markets as they adjust pricing structures to meet market expectations."