Global hotel prices rise for the fourth year running

Thursday 6, March 2014


Global hotel prices rise for the fourth year running


Hotel prices increased by three per cent in 2013, with one region ahead of its pre-economic crisis rates for the first time, according to the latest Hotel Price Index


The average price of a hotel room around the world rose three percent during 2013, according to the latest The™ Hotel Price Index™(HPI™). This means there have now been four years of steady rises in hotel prices since the substantial falls during the financial collapse of 2008/9.

Set at 100 in 2004, the HPI tracks real prices that hotel guests actually paid for their accommodation around the world. The HPI for 2013 stands at 110, seven points lower than its peak in 2007 despite the recent growth, and just ten points higher than at its launch.

Latin America registered its strongest result yet, following a five per cent increase in hotel prices, and has now overtaken its previous peak set just before the global economic downturn. With reports stating that emerging markets are showing solid economic growth, prices rose as demand intensified.

Johan Svanstrom, President of the brand, said: "According to UNWTO (the United Nations World Tourism Organization), international tourist arrivals in 2013 grew by five percent to a record global figure of 1,087 million, well above expectations. The growth in global hotel prices we are reporting today reflects that trend.

"There is no doubt that European hotel prices were some of the most badly affected by the economic fallout. However, most indicators now show that the economic squeeze is easing, if not yet completely over.

"Looking ahead, one phenomenon impacting global hotel prices in 2014 is the huge rise in the number of sports fans traveling this year, with the Sochi Olympics and Paralympics in February and March and the FIFA World Cup in Brazil in the summer," he added.

Higher occupancy levels recorded in many areas helped the North American HPI climb three percent, matching the global rise.

Hotel rates in Europe and the Middle East grew by two percent. With many financial indicators showing that the European economic recovery is gathering greater momentum, several of the destinations worst hit by the downturn have seen their prices stabilise, with some experiencing healthy increases.

The Pacific region was level. Softer domestic corporate travel in Western Australia, coupled with the drop in value of the Australian Dollar towards the end of the year, had a dampening effect on the overall average.

Conversely, the HPI in Asia fell by 2 percent, which was good news for inbound travelers to the region as it continues to offer some of the world's best value hotel accommodation. The depreciation of the Yen, Rupee and Rupiah, coupled with a decrease in inbound visitors to China contributed to this result, although outbound travel from China remains buoyant. There also continues to be a longer term trend of more travel within the region.



Bookmark and Share


^ back to top


Find the best deals available today

The grey menu on the right is your best friend. Always check before you travel.

Plan your trips with the help of great resources

More and more travellers think that researching and planning a European city break is half the fun and they're not interested in pre-arranged trips or escorted tours. Self-guided tours offer a lot of advantages but require some guidance and good resources.


Clean, green and very pristine

Top 10 most environmentally pure countries

With the recent wild fires, disrupting flights and increasing air pollution, environmental quality is a growing factor in attracting tourists.



Top 15 most spectacular hotel rooftop views

The hotel price comparison site has put together a list of the fifteen most spectacular hotel rooftop terraces in the world.

Latest offers, discounts and more...

Accor “3=2 offer”
Why not extend your stay? 3 nights for the price of 2.
Columbus Direct travel insurance
Quality cover at low prices to customers all around the world.
Priority pass
Access VIP lounges no matter where which airline and class you fly.
European City Cards
See more and pay less! Get your "passport" to European cities.
Rail Europe
Comfortable and affordable on European trains.
Lonely Planet Magazine
Packed with insider knowledge, hints and tips.
Sandemans New Europe City Tours
Free walking tours in 13 cities within 9 countries.
Sol Melia Wednesdays
Search your exclusive special offers now for the coming weekend!
Low-cost shuttle and private transfers in over 70 countries.
IMEX Frankfurt 25-27 May
The essential worldwide exhibition for incentive travel, meetings and events.
Subscribe to Travelio News Summary via RSS Follow our news titles on Twitter Become a fan of on Facebook Bookmark and Share