Hotel Price Index From Hotels.com Finds Passion for Travel Is Still on the Rise
April 2, 2019 1:31pm
DALLAS, April 2, 2019 -- There's no sign of a slowdown for the global travel industry, according to the latest Hotel Price Index™ (HPI™) from Hotels.com™. The prices travelers paid for overnight accommodation rose 3 percent globally in 2018, with every regional index, except the Pacific, receiving a boost.
The growth in travel comes despite uncertainty such as Brexit, the wildfires in California, drought in South Africa and earthquakes in Japan. Travelers also showed resilience and renewed confidence in destinations touched by unrest like Paris, Egypt and Turkey, as well as regions experiencing currency fluctuations like South America, and areas in North America affected by natural disaster.
A few of the study's key findings:
Destinations on the Rise
Among the destinations that rose to the top for American and Canadian travelers in 2018 were Ireland, Japan and Turkey.
Flexible visa requirements in some markets and a visit from Pope Francis in August helped Ireland bring in more than 10 million travelers in 2018, a record high. American travelers paid 10 percent more for accommodations in Dublin, an average of $207 per night.
In Japan, Tokyo, Osaka and Kyoto, visitor numbers grew by almost 9 percent for a record high of almost 32 million. Osaka and Kyoto both rose more than 10 spots on the list of the U.S. and Canada's most popular international destinations.
Turkey's tourism is booming despite a financially difficult year in 2018, with Istanbul jumping more than 10 spots in the top 50 most popular destinations for both the U.S. and Canada. International visitors went up by 22 percent in Turkey and Istanbul recorded the highest rise in price paid by American travelers in 2018.
Luxury for Less
Both American and Canadian travelers paid quite a bit less to enjoy four-star and five-star accommodations in 2018, at home and internationally.
For American travelers, three destinations saw their five-star rates drop by 13 percent: Charlotte ($282 per night) and Louisville ($226 per night) in the U.S., and Reykjavik. In Iceland, the tourism boom of the past few years has continued to slow down, which brought down the average price paid per night to $478.
For Canadian travelers, three U.S. destinations saw their five-star rates drop considerably: Nashville by 24 percent ($321 per night), Portland by 15 percent ($251 per night) and New Orleans was also down by 15 percent ($325 per night).
Katie Junod, general manager of the Hotels.com brand in North America, said, "HPI has always given us a good barometer on the industry and helps give us an insight into global travel trends. This year we have seen growth despite a lot of political challenges and natural disasters, which indicates that the industry shows no signs of slowing down."
The HPI was set at 100 in its inaugural year, 2004. The index format allows Hotels.com to highlight year-over-year variations in actual prices paid* per night by travelers without foreign exchange fluctuations distorting the picture.
In addition to the great value destinations and hidden gems found in the HPI, travelers who haven't padded their wallets with cryptocurrency yet can take advantage of programs like Hotels.com™ Rewards, which lets them earn free* nights while they sleep.
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Contact: Lainie McKeague
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