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"HostelBooker.com" reports recent surge in Rio de Janeiro accommodation prices

February accommodation prices in Rio de Janeiro have risen to more than 10 times their standard value according to a recent study conducted by leading travel company HostelBookers.

The hostel and budget accommodation specialists’ study found that the hostels who still have availability will be charging 367% more on average for dorms and beds.

Despite owners charging 367% more for Carnival accommodation this year, hostels remain the cheapest and most popular option for travelers.

This has been fuelled by travelers’ high demand for accommodation at the upcoming Carnival and Rio’s status as a premium travel destination. Some Rio hostels are considering marking up their prices even further to capitalize on the event’s popularity amongst tourists.

Hostel price increases are nothing compared to the cost of hotel accommodation. Last minute hotel bookings have reached over £377 for a single night.

From a report by hostelbookers.com - read their full report HERE.