News for the Hospitality Executive |
DALLAS — March 1, 2010 /PRNewswire/ — Hotels.com®, the largest provider of lodging worldwide, today unveiled its 2009 Hotel Price Index™ (HPI®), the definitive annual report on hotel prices paid around the world. The index shows hotel prices in the U.S. fell 14 percent during the last half of 2009 compared to rates in the same time period in 2008. Hotels.com attributes the falling prices in North America to the economic slowdown and the subsequent reduced demand for rooms. With 2009 being the year of the travel deal, some cities did see a rise in prices paid as a result of the cause to currency movements, but also with travelers spending more for a little more luxury. The gap in price between 3, 4, and 5 star hotels narrowed in 2009 meaning travelers could spend less to get more. 2010 promises to be another great year for the travel deal and value. The HPI also found there was a slowdown in price cuts, potentially showing a leveling off of prices for 2010. Prices dropped 16 percent year-over-year in Q1, 17 percent in Q2, 14 percent in Q3, and finally down to 7 percent in Q4. In fact, for the first time since the HPI has been released, US hotel prices are at the level they were in 2004, dramatically falling from the peak prices seen in 2007. “2009 proved to be a great year for consumers looking for rooms at reasonable rates, especially in cities that are major tourist attractions such as New York, where prices dropped nearly 25 percent,” said Scott Booker, vice president, global retail, Hotels.com. “Despite signs that prices of hotel rooms are leveling off, consumers can be certain that they’ll always get the best deal possible on Hotels.com, thanks to our Price Match Guarantee, welcomerewards ™ loyalty program and best in class promotions and deals.” Click http://hotels.mediaroom.com for a look at the entire report, featuring infographics and a detailed state-by-state and city-by-city breakdown. Key Findings:
Following is a list of the most expensive cities in the US:
About the HPI:The Hotels.com Hotel Price Index (HPI) is a regular survey of hotel prices in major destinations across the world. The HPI is based on bookings made on Hotels.com and prices shown are those actually paid by customers (rather than advertised rates) in 2009. Approximately 94,000 properties in more than 16,000 locations make up the sample set of hotels from which prices are taken. About Hotels.comHotels.com® is a leading provider of lodging worldwide, offering more than 85,000 properties in over 60 countries from national chain hotels and all-inclusive resorts to local favorites and bed & breakfasts. With services such as welcomerewards™, an industry leading loyalty rewards program; the real opinions of other travelers captured in the over 1.5 million Guest Reviews and; a Price Match Guarantee, so that those booking with Hotels.com can be assured they are getting the best deal, either online or by speaking directly to a travel expert at 1-800-2-HOTELS 24 hours a day. Hotels.com, A Smarter Way to Book™. For more information, please visit hotels.com. Hotels.com is an operating company of Expedia, Inc. (NASDAQ: EXPE). Hotels.com, Hotel Price Index, HPI, welcomereward and the Hotels.com logo are either registered trademarks or trademarks of Hotels.com, LP, a subsidiary of Hotels.com. Other logos or products and company names mentioned herein may be the property of their respective owners © 2010 Hotels.com, LP. All rights reserved. CST # 2083949-50 |
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