Hotels.com Releases Hotel Price Index results for the First Half of the Year; U.S. up 2%
- While U.S. Cities are on the Rise, Americans Get Bargains Abroad
- Global hotel prices paid by travelers worldwide rose by just 1% during first half 2015, according to latest Hotel Price Index from Hotels.com
- Prices paid overall not back to pre-economic crisis levels, representing great value for travelers, but three regions set new records for spending
- U.S. hotel prices are up 2% this year for worldwide travelers
DALLAS, Sept. 2, 2015 /PRNewswire/ – For the first time, hotel prices paid in three world regions have overtaken their pre-financial crisis levels of 2008/2009, with North America, the Caribbean and Latin America setting new records although the overall global rise is up just 1% in the first half of 2015 compared to the same period in 2014 according to the latest Hotel Price Index™ (HPI®) from Hotels.com®. More travelers[1], higher consumer spending in key areas and strong currency fluctuations have all contributed to this result. For the U.S. in particular, hotel prices rose steadily, with an overall 2% increase paid by worldwide travelers the first half of the year.
The HPI is a regular report on hotel prices in major destinations across the world, tracking the movement in prices that people actually paid* for their accommodation and providing valuable insight into the reasons behind these changes. The data is drawn from bookings made on the hundreds of thousands of hotels on the Hotels.com websites worldwide.
East Coast Hotspots with Price Drops
For the past three years, Hotels.com has reported a steady increase in New York City hotel prices, but this year, the Big Apple is on the decline. For U.S. travelers, prices paid in New York dropped 6% from $261 per night to $245 per night this year. Although New York City is still the domestic destination where U.S. travelers paid the most this year, the decline in price could be attributed to the hotel boom in Manhattan and Queens.
If U.S. travelers are looking to go East, Atlantic City, NJ could be worthy of a few nights' stay. Hotel prices in "America's Favorite Playground" dropped 3% year-over-year to an average of $147 per night, making this entertainment-meets-beach town optimal for a budget-friendly getaway.
Western Cities on the Rise
Gaining in popularity and price are destinations in Washington, Oregon and Arizona. The Grand Canyon area made its debut on the top 50 list of popular U.S. cities for Americans this year, coming in at #45. Hotel prices in the area made a 12% jump, the highest increase of any U.S. destination this year. Yet for those looking to travel to the area to celebrate the 2016 Centennial of the National Park Service, average prices paid were still an affordable $117 per night.
Hotel prices in Portland, Oregon and Seattle, Washington each increased by 9% this year, rising to $149 and $195 per night, respectively. It's likely that Portland's mild winter this year and the success of Travel Portland's "Portland is Happening Now" campaign at least partially contributed to this rise. As for Seattle, the city saw an increase in travel interest since the recreational sale of marijuana was legalized in July of 2014. The city experienced a 61% increase in hotel searches in the second half of 2014 after the law was in effect.
The three most popular international destinations for Americans saw large price drops for the first half of the year. London, which was the #1 most popular international city for Americans, saw a 7% decrease, bringing the nightly price paid down from $271 to $252. Paris and Rome, the next two most popular international cities for Americans each dropped by 16%. The declines may be a result, in part, of currency fluctuations in the area this year.
Kuala Lumpur, Malaysia decreased by 24% this year. With average prices paid of $89 per night, the city was one of the best bargains in Asia. Both Hong Kong and Seoul, Korea saw price drops at 16% and 13% respectively.
Please visit http://hpi.hotels.com for more information and to view reports in additional currencies. To find more travel ideas and tips, follow Hotels.com on Twitter at @hotelsdotcom and #HotelExperts.
*Average prices paid per night inclusive of taxes and fees.
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