Global Hotel Prices Drop 17%

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15th September 2009, 11:32am - Views: 674






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MEDIA RELEASE PR36092


Global Hotel Prices Drop 17%


LONDON, Sept. 15 /PRNewswire-AsiaNet/ --


    - Room Rates at Their Lowest for Five Years


    The average price of a hotel room around the world fell by 17% in the

first six months of 2009, according to the latest Hotels.com Hotel Price

Index.


    Hotel prices in June 2009 were more than one sixth lower than they were

the year before and room rates were just 1% above their level in January

2004, when the Hotel Price Index was started.


    The 17% fall in room rates* was driven by price drops across every

continent.


    Prices in Latin America fell by the greatest extent, down 18% in the

first half of 2009 compared to the year before. Prices for hotel rooms in

North America were down 17%, with rates in Europe faring little better,

dropping 16% during the same period.


    Asian hotel rates, which had been holding up better than those in the

U.S. or Europe, tumbled in the first half of 2009 dropping an average of 17%

compared to the same period one year earlier.


    Hotel rates in the Caribbean only saw a single digit fall with rates

dropping just 2% in the first half of the year.


    The Hotels.com HPI tracks the real prices paid per hotel room rather than

advertised rates. It is based on prices actually paid by customers at 78,000

hotels across 13,000 locations around the world.


    The latest HPI looks at hotel prices for the period January to June 2009,

compared to the same period the year before.


    David Roche, President, Hotels.com Worldwide, comments:


    "The dampening effect of falling consumer demand has been compounded by

sharply increased hotel capacity. In the first half of 2009 an ever larger

number of hotel rooms chased a dwindling stream of customers, and this

'double whammy' lowered prices by 17% globally.


    "As demand fell, hoteliers closed floors and cut back both services and

prices, creating a market with a distinctly promotional character that is

likely to endure for some time."


    * The HPI tracks the actual prices paid per room by Hotels.com customers

around the world using a weighted average based on the number of rooms sold

in each of the markets that Hotels.com operates in.


    Full details of the Hotel Price Index can be found at




    Notes to editors


    Fourteen editions of the HPI are published globally. Country versions

reflecting hotel prices in local currencies are available for the US, Canada,

UK, Ireland, France, Germany, Spain, Portugal, Italy, Netherlands, Norway,

Sweden, Finland and Denmark.


    About Hotels.com


    As part of the Expedia group which operates in all major markets,

Hotels.com offers more than 100,000 quality hotels, B&Bs and serviced

apartments worldwide. If a customer can find the same deal for less on a

prepaid hotel, Hotels.com will match it. Hotels.com benefits from one of the

largest hotel contracting teams in the industry negotiating the best rates

for its customers, plus there are 1.3m reviews from users who have actually

stayed in the hotels to ensure customers make an informed choice when

booking. Hotels.com won the Gold Award for best hotel booking site in Webuser

magazine in February 2009. Travellers can book online or by contacting one of

the multilingual call centres on +44(0)871-200-0171.


    For country specific information, please contact:


    EMEA: press@hotels.co.uk

    US: press@hotels.com

    CA: melissa.legaspi@edelman.com

    APAC: v-eschmidt@hotels.com


    SOURCE: Hotels.com


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