The average cost of a hotel room around the world rose 2% in 2010, according to the Hotels.com Hotel Price Index (HPI) – the first year-on-year increase in rates since 2007. Prices fell so low during 2009 however, that despite last year’s modest increase, the average price of a room is still the same now as it was in 2004. Asia was the only region to significantly buck this trend, with room rates in the region now 15% higher than in 2004, when the HPI began reporting. Average rates in Latin America & the Caribbean increased and North America also rose, by 1% and 2% respectively, over the seven-year period.
David Roche, President of Hotels.com, said; “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.”