Hotel prices fall, worldwide
2009-01-15
The average price for hotel rooms world wide fell over the last summer. This is the belief of website Hotels.com. Hotels.com runs what it calls the Hotel Price Index (HPI). This fall in hotel prices was the first first year on-year fall in prices measured in any quarter since Hotels.com began the HPI started in the January of 2004. The average price paid for a hotel room during the period between July-September of 2008 dropped by something in the region of 3%, all of the world. This is based on a comparison to the same period during the previous year, 2007.
The relative weak position of the Pound Sterling during the 3rd quarter of 2008 mean, sadly for them, that UK holidaymakers and travellers won't feel any benefit -at least yet- from the worldwide decrease in hotel costs.
The above trend, coupled with some price rises in Europe (which has, for some reason, managed to beat the trend in the rest of the world) and the relatively stronger position of the Euro, meant, for UK travellers, the average prices for some European destinations rose. And in some caes rose by as much as 30%!
The report from Hotels.com also made it clear that the 3% drop in prices over the world was, at least in part, a result of the drop in room prices across the continental of America, (US prices dropped by some 5%), in Latin America (prices lower by 1%) and the in the Caribbean (where prices declined by 4%). Meanwhile, prices in Asia, reminded, in the most part, fairly static.
David Roche, President of Hotels.com Worldwide, said: "Hotels in the Americas in particular have been feeling the effects of the wider global downturn for the past six to nine months and we have seen extensive price cutting already. US hoteliers may have to cut prices further to maintain occupancy in the month to come."
Savy travellers can ensure that they look for good deals on airport car parking and airport hotels, deals on holidays and the like, by checking with websites like APH, which will tend to keep their business and holiday travel and hotel stays.
