Global hotel prices down by 12 percent
March 24, 2009 |
The average price of a hotel room around the world fell by 12 percent last year, according to the latest hotels.com Hotel Price Index. This fall in prices paid was driven by price drops across every continent.
Hotel prices in December 2008 were more than one tenth lower than they were the year before and room rates were just 1 percent above their level in January 2004, when the Hotel Price Index was first launched.
The hotels.com HPI(TM) tracks the real prices paid per hotel room rather than advertised rates. It is based on prices actually paid by customers for 68,000 hotels across 12,500 locations around the world. The HPI report issued today examines hotel prices for the period October to December 2008, compared to the same period the year before. The HPI tracks the real prices paid per room by hotels.com(R) customers around the world using a weighted average based on the number of rooms sold in each of the markets in which hotels.com operates.
Some of the notable findings about U.S. destinations included in this year's report:
- New York was the most expensive U.S. destination of those tracked in the global list, with prices averaging $255 during Q4 2008 - a fall of more than one-fifth (22 percent) compared to the same period in 2007.
- Washington, D.C. saw the sharpest price increase of any U.S. destination, with a 10 percent rise to $120 compared to Q4 2007. Demand for properties in the nation's capital surged as travelers planned trips for the presidential inauguration.
- Among the United States, New York was the most expensive destination, followed by Hawaii and Massachusetts. The least expensive states for travelers in Q4 2008 were Idaho, Nevada and South Dakota.
- New York topped American travelers' lists as the most popular domestic city destination, followed by Las Vegas, Orlando, Chicago, Los Angeles and San Francisco.
- For Americans venturing outside the country, Toronto was the most popular destination for U.S. travelers, followed by London. Paris, Rome and Hong Kong also made the top 10 list of international favorites for American travelers.
- For international travelers visiting the United States, New York, Las Vegas and Miami were the top destinations in Q4 2008.
Carl Sparks, general manager of hotels.com, said, "While hotels faced a challenging environment in the fourth quarter, they rolled out the welcome mat to travelers like we have never seen before to fill rooms. Properties are continuing to offer compelling rates and added value options, so it continues to be an excellent time for people to plan trips and secure great deals."
Latest Industry News
UK by far largest online travel market in Europe
03 Feb, 2012 | Online Travel
UK: Only one in ten book their holiday with a travel agent
03 Feb, 2012 | Online Travel
Orbitz launches new hotel iPhone app
03 Feb, 2012 | Hotel Marketing
European hospitality results 2011: between satisfaction and a question mark
03 Feb, 2012 | Hotel Marketing
Site review: Four Seasons $18m redesign
03 Feb, 2012 | Hotel Marketing
Examples of brands that pop on Pinterest
03 Feb, 2012 | Online Marketing
Google+ impact on hotel SEO strategies
02 Feb, 2012 | Hotel Marketing
Survey reveals travel agency views on selling of ancillary services
02 Feb, 2012 | Online Travel
Travel retailers at risk as non-GDS business rises
02 Feb, 2012 | Hotel Marketing
Starwood Hotels adds customer reviews to Facebook
02 Feb, 2012 | Hotel Marketing
How social media changed SEO
02 Feb, 2012 | Online Marketing
Pinterest driving more referral traffic than Google+
02 Feb, 2012 | Online Marketing
Tripadvisor banned from claiming its reviews are real
01 Feb, 2012 | Online Travel
FairSearch.org issues Google Flight Search report
01 Feb, 2012 | Online Travel
Starwood setting out to reinvent hotel loyalty programs
01 Feb, 2012 | Hotel Marketing
Most Popular Articles
Tripadvisor banned from claiming its reviews are real
01 Feb, 2012 | Online Travel
Roomkey.com an expensive rhetoric?
30 Jan, 2012 | Hotel Marketing
Google+ impact on hotel SEO strategies
02 Feb, 2012 | Hotel Marketing
Starwood setting out to reinvent hotel loyalty programs
01 Feb, 2012 | Hotel Marketing
Kayak’s website redesign takes its lead from mobile
31 Jan, 2012 | Online Travel
Tablets dominate mobile purchases
30 Jan, 2012 | Online Marketing
The incentives for faking online reviews are getting bigger
30 Jan, 2012 | Online Marketing
The case for not using Google Analytics to track hotel clicks and bookings
31 Jan, 2012 | Hotel Marketing
UK by far largest online travel market in Europe
03 Feb, 2012 | Online Travel
BackBid turns hotel shopping on its head
31 Jan, 2012 | Hotel Marketing
Latest Company News
Vincci Hoteles selects EZYield for hotel channel management
19 Jan, 2012 | Hotel Marketing
RateGain to provide competitive rate intelligence for Accor N.A.
18 Jan, 2012 | Hotel Marketing
Lodging Interactive, CoMMingle capitalizing on 10 years of success
17 Jan, 2012 | Hotel Marketing
Availpro and Premier Hotels of the World enter extended partnership
15 Jan, 2012 | Hotel Marketing
Lodging Interactive reveals what’s hot in social media & marketing
12 Jan, 2012 | Hotel Marketing
Lodging Interactive offers 5 tips to making Web strategies ‘fresh’
10 Jan, 2012 | Hotel Marketing
VIZERGY honored with six HSMAI Adrian Awards
04 Dec, 2011 | Hotel Marketing
Appnostic announces social distribution partnership with Genares
04 Dec, 2011 | Hotel Marketing
Webinar: Social Media and Storytelling for Hotels, November 30th at 11:00 am EST
22 Nov, 2011 | Hotel Marketing
Hotels collect guest reviews from Facebook
18 Nov, 2011 | Hotel Marketing
TravelClick Webinar: Creating customer value beyond the discount
18 Nov, 2011 | Hotel Marketing
Preferred Hotel Group selects RateGain
18 Nov, 2011 | Hotel Marketing
Kuoni’s Octopus goes for authentic reviews from Reevoo
09 Nov, 2011 | Online Travel
TUI Travel’s Hotelbeds unveils five-year growth plans
09 Nov, 2011 | Online Travel
Windsurfer CRS integrates RateGain’s rate shopping solution
09 Nov, 2011 | Hotel Marketing























