Le Monde on George Street is charging £300, a room at the Rutland Hotel in the West End will cost £280, the Balmoral is charging £260 and Hotel Missoni £250.
Even chains such as Novotel and Apex are charging £200 and £188 a room respectively for the night of the concert on 21 July.
Business leaders believe the one-off Madonna show could generate in excess of £60 million for the city – roughly the same as the two Six Nations fixtures against England and France at Murrayfield in 2012.
Hotels have already come under fire from the city council for hiking up their prices during major events like Edinburgh’s Hogmanay and the Fringe. However, the local authority’s attempts to impose a tourist tax, to help pay for the city’s costs involved in major events and festivals, were rejected by the Scottish Government.
Deputy council leader Steve Cardownie said: “These prices do leave a sour taste in the mouth.It undermines the credibility of the hotel industry when it complains about the prospect of a tourist tax and then adopts these kind of tactics.
“It is bit unfair on people as it adds a lot to the price they are already paying for tickets to see Madonna.”
However, Colin Paton, chair of the Edinburgh Hotels Association, said: “I don’t see why the hotel industry gets beaten up over this kind of thing, it’s exactly the same as companies like easyJet do.
“If you are experiencing high demand, or are anticipating it, then you price your rooms at what you think you can sell it at.
“Some people will think they will get a good deal on a room now, while others will take the risk that prices may come down.
“You will pay a lot less for a Saturday night in February, but that’s because there is a lot less demand, unless there is a big event like the rugby on.”