The hotel price index, found at the online source, also quotes hotel prices in many top business capitals are on the rise, year-over-year. The results are consistent with the Global Business Travel Association’s projection citing worldwide business travel spending will rise by approximately nine per cent this year. But while the average price of a hotel room around the world rose three per cent, some major business cities saw hotel room prices fall, due to natural disasters and political unrest.
Last year’s hotel price index found Asian cities gaining popularity amongst business travellers, a trend that’s continuing. Average prices for hotel rooms throughout Asia fell by eight per cent from the first half of 2010 to the first half of this year, however individual markets in the region increased dramatically. Hotel prices in Singapore increased 18 per cent year-over-year, and room rates in Hong Kong jumped 24 per cent from an average of $142 per night in 2010 to $176 in 2011.
The hotels.com ‘hotel price index’ (HPI), is a survey of hotel prices in major cities around the world. The HPI is based on actual bookings made on hotels.com. The report largely compares prices paid in 2010 with prices paid in 2011.
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