Indian Metros show robust growth in average hotel price increases reflecting the resilience of India’s economy in 2010
The average cost of a hotel room in India rose 2% (reached 147 USD per night) in 2010, according to the Hotels.com® Hotel Price Index™ (HPI®). Hotel rates in Mumbai and New Delhi rose 7% (reached 173 USD) and 11% (reached 158 USD per night) respectively as business and leisure travel picked up.
Despite declining 2%, the average price of a hotel room in Asia was still 15% (at 115 USD) higher than when the Hotel Price Index began in 2004. The region exhibits a very varying price landscape. For example, Thailand suffered from political unrest and having a relatively large supply base; Singapore recorded significant increases thanks to the strong bounce back of corporate travellers and new tourist attractions, while Shanghai price points were boosted by the successful World Expo.
While prices in all regions were either flat or down year-on-year in the first half of 2010, the average annual price went up 1% in Latin America and the Caribbean, 2% in North America and had stabilised in Europe.
The global hotel price increase was the first time that the average hotel room price rose year-on-year since 2007. However, prices fell so low during 2009 after a 13% drop that despite last year’s modest increase, the average price of a room is still the same now as it was in 2004.
Mr. David Roche, President of Hotels.com, commented: After the worst trading conditions most in the market had seen, the 2010 story shows a market in recovery. However, since the fall was so prolonged and steep, guests were still roughly paying for a hotel night what they would have done six or seven years ago. Whilst the high volume of promotions we saw in the depth of the crisis has dried up somewhat, there are still deals to be had.”
Mr. Abhiram Chowdhry, Marketing Director-Asia Pacific, Hotels.com highlighted the trend in India and the region stating, ‘’The Asia Pacific region saw a big variance in the movement of hotel prices. On average, in Asia, room rates were relatively flat dropping a marginal 2%. India was among the country destinations which witnessed a growth bucking the overall APAC trend and reflecting the resilience of India’s economy. ”
*Prices reflect real US dollars paid by travellers from various markets in the year 2010, compared to prices paid in US dollars in the year 2009
About the HPI:
The Hotels.com Hotel Price IndexTM (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 2010.Now in its eighth year, the HPI® is respected as the definitive report on hotel prices paid around the world and increasingly used as a reference tool by media, analysts, tourism bodies and academics.
- The HPITM tracks the real prices paid per room by Hotels.com customers around the world using a weighted average based on the number of rooms sold in each of the markets that Hotels.com operates in.
- Approximately 110,000 properties in more than 18,000 locations make up the sample set of hotels from which prices are taken.
The International scale of Hotels.com (in terms of both customers and destinations) makes the Hotel Price Index one of the most comprehensive benchmarks available, as it incorporates both chain and independent hotels, as well as options such as self-catering and bed and breakfast properties.
About Hotels.com
As part of the Expedia group which operates in all major markets, Hotels.com, the global hotel specialist, offers more than 130,000 quality hotels, B&Bs and serviced apartments worldwide. If the customer can find the same deal for less on a prepaid hotel, Hotels.com will match it. Hotels.com benefits from one of the world's largest hotel contracting teams in the industry, negotiating the best rates for its customers, plus there are 1.8 million reviews from users who have actually stayed in the hotels to ensure customers make an informed choice when booking. The company currently operates over 75 Hotels.com sites around the world including 13 sites in 8 languages across Asia Pacific alone. Travellers can book online or by contacting one of the multilingual call centres on 1800 102 1122.
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