New ETF Book by Larry Connors - Click here to read more
The average price of a hotel room around the world fell by 17% in the first six months of 2009, according to the latest Hotels.com Hotel Price Index.
Hotel prices in June 2009 were more than one sixth lower than they were the year before and room rates were just 1% above their level in January 2004, when the Hotel Price Index was started.
The 17% fall in room rates* was driven by price drops across every continent.
Prices in Latin America fell by the greatest extent, down 18% in the first half of 2009 compared to the year before. Prices for hotel rooms in North America were down 17%, with rates in Europe faring little better, dropping 16% during the same period.
Asian hotel rates, which had been holding up better than those in the U.S. or Europe, tumbled in the first half of 2009 dropping an average of 17% compared to the same period one year earlier.
Hotel rates in the Caribbean only saw a single digit fall with rates dropping just 2% in the first half of the year.
The Hotels.com HPI tracks the real prices paid per hotel room rather than advertised rates. It is based on prices actually paid by customers at 78,000 hotels across 13,000 locations around the world.
The latest HPI looks at hotel prices for the period January to June 2009, compared to the same period the year before.
David Roche, President, Hotels.com Worldwide, comments:
"The dampening effect of falling consumer demand has been compounded by sharply increased hotel capacity. In the first half of 2009 an ever larger number of hotel rooms chased a dwindling stream of customers, and this 'double whammy' lowered prices by 17% globally.
"As demand fell, hoteliers closed floors and cut back both services and prices, creating a market with a distinctly promotional character that is likely to endure for some time."
* The HPI tracks the actual 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.
<<
Full details of the Hotel Price Index can be found at
http://www.hotels.co.uk/press/hotel-price-index.html
Notes to editors
>>
Fourteen editions of the HPI are published globally. Country versions reflecting hotel prices in local currencies are available for the US, Canada, UK, Ireland, France, Germany, Spain, Portugal, Italy, Netherlands, Norway, Sweden, Finland and Denmark.
About Hotels.com
As part of the Expedia group which operates in all major markets, Hotels.com offers more than 100,000 quality hotels, B&Bs and serviced apartments worldwide. If a customer can find the same deal for less on a prepaid hotel, Hotels.com will match it. Hotels.com benefits from one of the largest hotel contracting teams in the industry negotiating the best rates for its customers, plus there are 1.3m reviews from users who have actually stayed in the hotels to ensure customers make an informed choice when booking. Hotels.com won the Gold Award for best hotel booking site in Webuser magazine in February 2009. Travellers can book online or by contacting one of the multilingual call centres on +44(0)871-200-0171.
<<
For country specific information, please contact:
EMEA: press@hotels.co.uk
US: press@hotels.com
CA: melissa.legaspi@edelman.com
APAC: v-eschmidt@hotels.com
>>
SOURCE: Hotels.com
Cordy Griffiths, PR Manager, Expedia.com Ltd, Tel: +44(0)20-7019-2268; For country specific information, please contact: EMEA: press@hotels.co.uk, US: press@hotels.com, CA: melissa.legaspi@edelman.com, APAC: v-eschmidt@hotels.com
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.