It might come as a surprise to some, but Rio de Janerio was just named the world’s most expensive major city for a hotel stay, according to a new study done by travel booking site Hotel Reservation Service (HRS). From January through March of 2012, the average cost for a night in the Brazilian capital was £192.88 (approx. $300) which is almost a 50% increase from the same three-month time period in 2011.

The influx of tourists for the Rio carnival in February was one reason HRS gave for the spike in prices along with the economic support that comes with hosting the FIFA World Cup coming in 2014 and the 2016 Olympic Games. Sydney was previously named the city with the world’s most expensive hotel stay, but only saw a 4.6 percent rise in prices and now average just below £145 (approx. $232). (Photo Credit: Copacabana Palace)

The influx of tourists for the Rio carnival in February was one reason HRS gave for the spike in prices along with the economic support that comes with hosting the FIFA World Cup coming in 2014 and the 2016 Olympic Games. Sydney was previously named the city with the world’s most expensive hotel stay, but only saw a 4.6 percent rise in prices and now average just below £145 (approx. $232). (Photo Credit: Hotel Fasano Rio de Janeiro)

London also saw an increase of 4.33% for an average of £100 ($160) as the city gears up for the Olympic Games next month. Liverpool actually had the largest rise of 12.55% from an average price of £63.37 (approx. $101) to £71.57 (approx. $114). Moscow remained the priciest hotel stay in Europe at an average of £122 (approx. $195) per night. (Photo Credit: Hotel Fasano Rio de Janeiro)