AN Edinburgh Airbnb room that sleeps four has hiked its price for Hogmanay by an astonishing 1,104%.
The room is normally let out for £96 but will soar to £1,137 on December 31 when hundreds of thousands of revellers descend on the city.
Average Airbnb prices in Edinburgh will increase by an average of 282% on December 31, putting it second only to Prague for New Year party price hikes.
Airbnbs in Edinburgh will cost an average of £245 on Hogmanay compared with just £64 a week later.
The price hike is bigger than Sydney, where costs will increase by 243% from £108 to £371, New York – 26% at £113 to £142 – and Berlin – 54% at £57 to £88.
In London, New Year’s Eve prices increase by a puny 3% from £76 to £78.
But the capital of the Czech Republic is miles ahead with a whopping 457%, from £54 to £301.
The owner of the Edinburgh room being let for £1137 describes the room as a “Beautiful large room in central Edinburgh flat with original floorboards and traditional cornicing.”
They add: “The flat also has a spacious kitchen, bright bathroom and is in a great location, only 15 minutes from Princes Street.”
But local bed and breakfast businesses not on Airbnb have slammed the property’s price hike.
A spokeswoman for Ramsay’s Bed and Breakfast, located just half a mile from the city centre said: “I think it’s completely ridiculous.
“There are certain times of the year when you charge higher, but this is ripping people off.
“It ultimately comes down to Edinburgh being a very popular city. People are cashing in on that.”
She added that a large room in Ramsay’s would usually be sold for around £160 on New Year’s Eve.
A spokesman for Luxury Central B&B said: “Generally most B&Bs charge between £100 and £200 a night at Hogmanay.
“But I’d sleep in a park for that money, it’s ludicrous.”
For the same price as the Edinburgh room, Airbnb users wanting to bring in the new year with a bang could rent out a luxury three bedroom penthouse in Glasgow.
The penthouse, located just 10 minutes walk away from the central Glasgow celebrations, is typically rented out for £571 a night, but will be rising to £1129 for Hogmanay.
Alternatively, they could also rent a double-room in Leven, less than a hour’s drive from Edinburgh City Centre, for just £14.