Hotel owners in London have raised their prices by nearly two-thirds on the day of the coronation.
Trivago chief executive Axel Hefer said that the group has seen hotel prices in the capital jump by 60% year on year for coronation day on May 6, with prices hitting £254 a night for early bookers.
This compares with £154 per night for the same day last year.
While hotels increase their prices in a bid to cash in on the expected surge in visitors surrounding King Charles's coronation, Trivago said booking trends suggest that many visitors may be shunning London on the day of the ceremony.
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Its data shows that the number of people searching for breaks in London are lower on the coronation weekend compared to those either side.
Trivago said that "given the very high prices, people would rather avoid traveling to the UK capital on the day of the coronation".
It is not unusual for London hotel prices to shoot up for major royal events.
The average rate for a hotel in London increased to £318 per night from £202 per night over the Queen's funeral, according to Hayley Berg, lead economist at travel startup Hopper.
While coronation day is an outlier in terms of prices this year, Trivago says it is seeing hotel prices continue to rise generally across the board.
Mr Hefer said hotel prices are rising by low single digits to high single digits this year, on top of increased prices in 2022.
However, he predicts that people are unlikely to ditch holidays altogether in 2023, despite soaring cost pressures, following years of Covid travel restrictions.
"People will still go on vacation and have a break, but they will try and do it more cheaply. "It is highly likely that the travel market will be up this year, but the question is by how much. By what extent will people compensate for the current price increases by down-trading?"
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The King's coronation is not the only event which has pushed holiday let prices up this month.
Fans have been left outraged after hotels hiked up prices for a one-night stay in Cardiff on the night Beyoncé comes to town.
Chains in the city have raised their prices charging anywhere from £450 to £1,000 a night from May 17, 2022 - when the star is set to perform at the Principality Stadium during her Renaissance world tour.
After already shelling out hundreds of pounds for concert tickets, fans are taking to social media to vent their outrage.
One Beyoncé fan said she started looking at hotel prices just minutes after tour dates were announced and that "nothing within a 40-minute drive of Cardiff was normal".
Many of these hotels have now sold out for the night.
A Radisson Blu room for one night has risen from £95 to £449, while a standard one-bed room at Cardiff's Novotel is now available for £425 - a £223 increase from a usual one-night stay.
A one-bed Airbnb based in the city centre is charging £517 on the night of the 17th - skyrocketing from the £77 the host usually charges per night.
Another Airbnb is hoping to get £1,002 from willing guests - a whopping £877 more than a standard one-night stay at the small apartment.
