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News Hotel News Average Hotel Room Price The Same As Seven Years Ago
News Hotel News Average Hotel Room Price The Same As Seven Years Ago
| Average Hotel Room Price The Same As Seven Years Ago |
| Monday, 21 March 2011 | |
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While last year saw an average global increase of 2% in hotel rates, the overall picture isn't all that encouraging. According to the most recent Hotels.com® Hotel Price Index™ this increase is the first year-on-year increase that has been seen since 2007, yet overall the rates are no higher than they were in 2004. This is due to a tremendous drop of 13% in in 2009. All regions saw steady prices or a decrease in rates in the first half of 2010, but many of these bounced back in the second half of the year with average annual rates increasing by 2% in North America and 1% in Latin American and the Caribbean, while rates in Europe stopped dropping. In addition, despite a decrease of 1% for hotel rates in Asia, the overall rates were still an amazing 15% higher than in 2004, the first year for the Hotel Price Index. The results are based on bookings made through Hotels.com. |
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