Breaking News Africa

« »

Monday, September 10, 2012

Global Hotel Prices Rise in all Regions


Global Hotel Prices Rise in all Regions

LONDON, September 4, 2012/PRNewswire/ --

Recovery in the hospitality sector gathered speed with a 4% increase in the

first half of 2012 but average prices remain at 2005 level, says new Hotels.com

[http://hotels.com ] Hotel Price Index

For the first time in five years, travellers paid more on average for their hotel rooms during the first six months of 2012 in all parts of the world, according to the latest Hotels.com [http://hotels.com ](R) Hotel Price Index[TM] (HPI(R)). The global 4% rise, compared to the same period the year before, demonstrated that the economic recovery in the hotel industry was well-established.

To view the Multimedia News Release, please click:

http://www.multivu.com/mnr/56589-global-hotel-prices-rise-in-all-regions

(Logo: http://photos.prnewswire.com/prnh/20120628/540164 )


The Index stood at 108 for this period meaning that, despite the latest increase, hotel prices in general were still considerably lower than in the first half of 2007 when the HPI was at its peak of 119.

Launched in 2004, the HPI looks at prices that people actually paid for their hotel rooms around the world. During the first six months of 2012, prices rose across the board with Pacific rates up 6%, North America up 5% and Asia up 4% while Latin America as well as Europe and the Middle East experienced a slower trajectory, up 1%.

David Roche, President, Hotels.com, said: "The hotel industry bounced back in the first half of this year from a number of natural and political crises in 2011 and it is encouraging to see growth in the sector. While initially it may not seem good news for consumers, hotel prices are still only around their 2005 level, representing great value for travellers when both wages and other prices have risen considerably."

Following the turmoil of the Arab Spring in early 2011, confidence returned to much of the Middle East and North Africa and hotel prices rose accordingly.

The same was true in Asia as the Japanese began to travel again after the turbulence of the earthquake, tsunami and nuclear disaster in March 2011 but there were other factors at play here as well. The significant increase in the number of Chinese international travellers helped to drive rates higher and expansion by the region's low cost carriers, such as Peach Aviation and Scoot, also boosted travel.

In the US, increasing business travel combined with higher consumer spending meant hotels were busier with less need for discounting. In the Pacific, the resources boom in Australia meant that space was at a premium, particularly in Western Australia with international business visitors vying with mining executives for rooms.

Although rates rose as a whole in Europe, the results showed a mixed picture. One of the areas where prices dropped was in parts of the Eurozone where falling consumer confidence and spending power led to lower occupancy in the major cities and holiday hotspots.

David Roche said: "The first six months of 2012 have proved a promising start for most hotels. However, the second half of the year, with increasingly mixed economic signals, will be interesting to watch. What our regular Hotel Price Index gives consumers is a good guide as to where they can make the most of their travel budget, no matter what outside influences are impacting prices."

For a full copy of the HPI report (live from 05:00 hrs BST 4th September 2012), graphics and video interview with Hotels.com [http://hotels.com ]'s David Roche go

to:

http://www.multivu.com/mnr/56589-global-hotel-prices-rise-in-all-regions

Detailed country-specific numbers for the US and Canada will be issued in separate press releases. For US information see http://press.hotels.com/en-us for Canadian see http://press.hotels.com/en-ca

About Hotels.com [http://hotels.com ]

As part of the Expedia, Inc. group, which operates in all major markets, Hotels.com [http://hotels.com ], LP offers almost 155,000 hotels, B&Bs and serviced apartments worldwide. Hotels.com [http://hotels.com ], LP benefits from one of the largest hotel contracting teams in the industry obtaining the best rates for its customers, plus there are more than 6.5 million reviews from users who have actually stayed in the hotels to ensure customers make an informed choice when booking. Travellers can book online or by contacting one of the multilingual call centres.

Hotels.com, Hotel Price Index, HPI, and the Hotels.com Logo are either registered trademarks or trademarks of Hotels.com, LP in the U.S. and/or other countries. All other trademarks are the property of their respective owners. (c) 2012 Hotels.com, LP. All rights reserved.


Photo: http://photos.prnewswire.com/prnh/20120628/540164
Video: http://www.multivu.com/mnr/56589-global-hotel-prices-rise-in-all-regions

Source: Hotels.com

Email press@hotels.co.uk or call +44(0)207-019-2428. Detailed country-specific numbers for the US and Canada will be issued in separate press releases. For US information see http://press.hotels.com/en-us/ for Canadian see http://press.hotels.com/en-ca/ or email pat@finnpartners.com

Top Reports

Releases displayed in Africa/Lagos time
10 Sep 2012
08:00 Omidyar Network And Monitor Group Announce Initiative To Strengthen Entrepreneurship Across Africa
04:17 Airtel Wins Triple at Industry Awards
04:15 Omidyar Network And Monitor Group Announce Initiative To Strengthen Entrepreneurship Across Africa
7 Sep 2012
16:31 Erfahrenes Luftwaffenpersonal gibt anl?sslich der in diesem Jahr zum 3. Mal stattfindenden Tagung "Airpower in Irregular Warfare" Feedback von Schaupl?tzen wie Afghanistan, Lateinamerika und Nordafrika Des officiers supérieurs de l'armée de l'air vont donner leurs impressions des théâtres d'opérations, y compris l'Afghanistan, l'Amérique Latine et l'Afrique du Nord, à l'occasion de la 3e réunion sur la Puissance aérienne dans la guerre irrégulière Senior Air Force Officials to Give Feedback From Theatres Including Afghanistan, Latin America and North Africa at the 3rd Annual Airpower in Irregular Warfare Gathering
09:14 Canada / Minister Fantino to travel to Sahel region and Nigeria
09:00 Des officiers supérieurs de l'armée de l'air vont donner leurs impressions des théâtres d'opérations, y compris l'Afghanistan, l'Amérique Latine et l'Afrique du Nord, à l'occasion de la 3e réunion sur la Puissance aérienne dans la guerre irrégulière Senior Air Force Officials to Give Feedback From Theatres Including Afghanistan, Latin America and North Africa at the 3rd Annual Airpower in Irregular Warfare Gathering Erfahrenes Luftwaffenpersonal gibt anl?sslich der in diesem Jahr zum 3. Mal stattfindenden Tagung
09:00 Senior Air Force Officials to Give Feedback From Theatres Including Afghanistan, Latin America and North Africa at the 3rd Annual Airpower in Irregular Warfare Gathering  
07:48 ECOWAS, USAID TO STRENGTHEN COOPERATION
6 Sep 2012
16:00 August natural disaster events highlight disparity of global insurance cover, according to Aon Benfield catastrophe report
15:59 Women in Cable Telecommunications Hosts Marina Levchenko, Senior Official for the Russian Olympic Committee
15:00 IBM Strengthens Operations in Morocco with New Branch in Rabat 
11:04 IBM Strengthens Operations in Morocco with New Branch in Rabat - New Rabat office underlines IBM's continued expansion strategy in Africa
08:49 IFC Partners with NIC Capital and the Dar es Salaam Stock Exchange to Support the Tanzanian Capital Market
03:02 Cold Stone Creamery Marks Presence In 20th Country With Expansion Into Nigeria - Cold Stone Creamery Continues its Aggressive Growth Plan With Launch in Africa
01:39 Cold Stone Creamery Marks Presence In 20th Country With Expansion Into Nigeria 
5 Sep 2012
16:12 SPDC Completes Sale of the seventh Nigerian Oil Mining Lease
09:42 EXPERTS AGREE STRUCTURE FOR REGIONAL COHERENCE IN FISHERIES POLICY
4 Sep 2012
11:30 Bristow to Acquire Assets and Minority Equity Interest in Cougar Helicopters of Canada for $250 Million
07:04 Bharti Airtel and Sanlam Cooperate for Distribution of Financial Products in Africa
3 Sep 2012
09:21 Royal Dutch Shell plc: SPDC Completes Sale of Nigerian OML








No comments: