The average price of an Edinburgh hotel room on December 31 is an astonishing £455 compared with an annual average of £99.
Results published by online booking service Trivago show the 360% Hogmanay price rise is the highest anywhere in the UK and Ireland.
Hotel chiefs said the findings are a clear indicator Edinburgh has lost none of its appeal as a party destination for people all over the world.
Many of the top hotels are fully booked for the festive season. Only six hotels out of 928 in the capital have rooms available for New Year's Eve.
Most of the city's premier hotels including the world-renowned Balmoral and five-star Old Town venue Hotel Missoni were booked out as of Thursday.
Other hotels such as the Caledonian and the Old Waverley Hotel, situated at either end of Princes Street, have just a few rooms left for December 31.
A search of Trivago yesterday returned just six venues out of hundreds of hotels with rooms available.
More than 80,000 revellers are expected to descend on the city centre for the 21st edition of Edinburgh's Hogmanay Concert in the Gardens, which will be headlined by the Pet Shop Boys.