Total solar eclipse drives up European hotel and rental prices

A total solar eclipse across parts of Europe on Tuesday pushed short-term accommodation prices sharply higher as tourists converged on cities along the path of totality, according to data from Lighthouse, a short-term rental analytics firm. In Reykjavik, Iceland, average hotel rates reached $1,012 per night, while short-term rental prices climbed to $1,172 — a 178 percent increase from a year earlier. In Bilbao, Spain, average short-term rental rates rose 206 percent to $1,088, while hotel rates averaged $315. Santiago de Compostela, outside the eclipse's path, recorded a more modest 13 percent rise, with rates around $193. According to Lighthouse, 64 percent of available rentals in Iceland and 21 percent in Spain were located along the eclipse route. The company said rentals are concentrated in Reykjavik and parts of northern Spain where the eclipse was visible. Jonathan Gough, head of marketing at Lighthouse, told CNBC that hotels typically raise prices during major events such as the World Cup and large concerts. He said Icelandic hotels had tripled or quadrupled their rates more than a year in advance, while Spanish operators increased prices gradually as reservations accumulated.