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.
Image by yakobusan under Creative Commons.
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I would like to share also that the price of indonesia’s hotels was also affected by global crisis, some hotel is dropping the price between 15 – 30 % .
People n Indonesia now still waiting the presidential election which will be coming soon, but the economic growth of the country now between 1 – 3 %
Thank you
Sincerely,
Adith Raharjo
Financial crisis plummeted international tourism. Lacking consumers hotel lines suffering badly. many hotels running with 20-30% capacity. This years snow storm has further tolled hotel business. Beginning of 2010 is really bad