Mumbai, Oct 22 (PTI): Mumbai has been ranked 11th among the best value destinations in the world for an overnight stay at a four-star hotel that includes breakfast, according to a report.

As per TripIndex Breakfast 2015, a TripAdvisor cost comparison study, Mumbai ranks 11th among the best value destinations for an overnight stay with breakfast costing Rs 9,343.92. Accommodation without breakfast will cost Rs 8,932.44 in the city, the report added.

The TripIndex Breakfast 2015 destination list comprises of 37 key cities within the top 37 most searched countries by global TripAdvisor users over the past 12 months. The report has compared the cost of an overnight stay with breakfast versus an overnight stay with breakfast eaten outside the hotel at a local restaurant.

Research was conducted by Ipsos and prices were collected through telephone and online web search. Prices in each market were taken in local currencies between September 7, 2015 and October 1, 2015 and currency conversion rates were taken from xe.com on October 1, 2015.

Buenos Aires (Argentina) is the best value destination in the world for Indians for an overnight stay at a four-star hotel including breakfast at Rs 4,612.63, followed by Moscow (Russia) at Rs 5,671.35, it said. New York City (US) emerged as the most expensive hotel destination in this study with an average of Rs 34,102.66 with breakfast.

When it comes to the cost of a hotel breakfast versus the cost of eating breakfast in a local restaurant, the cheapest hotel breakfast can be found in Istanbul (Turkey) at an average price of Rs 397.12 while the most expensive, at an average price of Rs 1,918.86, is in Zurich (Switzerland). Warsaw, the capital city of Poland, has the cheapest local restaurant breakfast, at an average of Rs 301.44, while Hong Kong offers the most expensive local restaurant breakfast at an eye-watering average of Rs 2,382.25, it stated.

For Indians looking to travel closer home, two South East Asian destinations -- Kuala Lumpur (Malaysia) and Manila (Philippines) -- were ranked among the top 10 value destinations at number seven and eight respectively.

"The main aim of the maiden TripIndex for Breakfast study is to help travellers make a wise decision while booking their stay at a hotel," TripAdvisor India Country Manager Nikhil Ganju said.

"For most Indian travellers, especially those travelling for leisure, free breakfast is very important when deciding where to book and results from this study show that they may do better to forego a hotel breakfast in favour of dining out locally in the morning since this is where the biggest savings can usually be made," he added.