News for the Hospitality Executive
DALLAS, March 29, 2011 -- Business travel to top U.S. convention centers and global business cities rebounded with higher occupancy rates and recorded higher average hotel rates last year according to the latest Hotel Price Index™ (HPI™) released by hotels.com®. The annual report illustrated a 2% global increase in average hotel room rates paid in 2010 when compared to the year before. Key findings culled from the report also reveal the next generation of cities primed for business travelers.
Traditional business and tradeshow cities including New York, Las Vegas , Orlando, London , and Paris were consistent with the global findings in the HPI, with each city showing increased hotel rates of varying degrees. However, this year's report shows Asian cities such as Singapore , Shanghai and Beijing to be winning favorability with business travelers in comparison to cities in Europe and the U.S.
"Our HPI shows higher occupancy levels and price increases in major business capitals and at higher star rating hotels," said Victor Owens, vice president of marketing, North America for Hotels.com. "In the U.S., New York, Las Vegas, and Orlando continue to draw business travelers from all over the world and domestically, but American travelers are taking a strong interest in Asian cities, particularly Shanghai and Hong Kong."
Hotels equipped for business travelers range between three and five stars and offer corporate travelers necessary amenities to conduct business. A majority of business hotels in top global cities such as Hong Kong, Shanghai, Boston , Chicago, London, and Paris , posted significant increases in average paid daily room rates year-over-year.
Visit http://www.hotel-price-index.com for a look at the entire report, featuring infographics, detailed maps, and a city-by-city breakdown.
Key Findings and Report Highlights:
*Average Daily Rate paid by hotels.com customers
About the HPI™
The hotels.com Hotel Price Index (HPI™), which began in 2004, is a regular survey of hotel prices in major city destinations (over 18,300 locations) across the globe. The HPI is based on bookings made on hotels.com and prices shown are those actually paid by customers (rather than advertised rates) in 2010 versus 2009.
The HPI is respected as the definitive report on
hotel prices around the world and is increasingly used as a reference
tool by media, analysts, tourism bodies and academics.
Hotels.com® is a leading provider of lodging worldwide, offering more than 130,000 properties in over 60 countries from national chain hotels and all-inclusive resorts to local favorites and bed & breakfasts. Hotels.com is the smarter way to book travel by offering welcomerewards®, an industry leading loyalty rewards program; the real opinions of other travelers captured in 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. For more information, please visit hotels.com. Hotels.com is an operating company of Expedia, Inc. (Nasdaq: EXPE). Follow us on Facebook at www.facebook.com/hotelsdotcom and Twitter via www.twitter.com/hotelsdotcom or visit the hotels.com Travel Smart Blog for consumer and business travel information. Get clayed at http://www.clayyourself.com. Detailed Hotel Price Index data is available at: http://www.hotel-price-index.com , hotels.com, A Smarter Way to Book™.
Hotels.com, Hotel Price Index, HPI and the hotels.com logo are either registered trademarks or trademarks of hotels.com, LP. Other logos or products and company names mentioned herein may be the property of their respective owners © 2011 hotels.com, LP. All rights reserved. CST # 2083949-50
Helen Ames – Ruder Finn for hotels.com
Taylor L. Cole, APR