Hotel prices in Belfast saw the largest ramp up in room rates last year compared to all other regions across the island of Ireland.
The average price of a room in the city climbed 18% in 2012 compared to 2011 and now stands at £78, according to the latest Hotels.com Hotel Price Index.
Seamus MacCormaic, Senior Director Market Management at Hotels.com said that events, such as the opening of the Titanic Building and the Irish Open, are a huge help to the industry.
"Events driven tourism has been a key driver of occupancy throughout 2012 and has hugely benefited hoteliers across the country," he said. Overall, hotel room rates across the island of Ireland climbed 5% to £78.
"While prices have risen, it's important to remember we are coming from several years of steep decline and Ireland still offers exceptional value compared to other destinations around the world."
The latest increase in room rates means Belfast is more expensive than the likes of Waterford and Limerick but still well below tourist destinations such as Killarney, Galway and Kilkenny.
Meanwhile, Kilkenny saw the biggest fall in room rates, down 8% year-on-year. Despite the slide, the region still commands above-average room rates of £81/night.
Dublin hotel rates rose by 8% and now stand at the same as Belfast at £78/night.
"A number of key events influenced this increase in prices such as the Tall Ships Race which took place in August 2012 attracting large numbers to the city, Bavaria City Racing in June and the Notre Dame vs. Navy American Football game at the Aviva Stadium in September which saw 35,000 American supporters descend upon the city," the survey said.