Looking at the four major currencies—euro, British pound, Japanese yen and Chinese yuan renminbi—over the last year, the room rate increases of the first six months markedly deteriorated in the latter part of 2017, which correlates with the weakening U.S. dollar. The average-daily-rate increase in Japanese yen during the second half of the year masked the most recent decline, as seen when looking at December data. So, whereas U.S. rooms have gotten cheaper in euros, pounds and yuan throughout the year, the run-up in the Japanese currency temporarily made U.S. hotel inventory much more expensive. That said, in December, the trend reversed, and for Japanese travelers, room rates in the U.S. declined. This had been the case for all currencies, especially the euro, which had been declining for more than six months. Get the full story at HNN