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In the first half of 2008, Tel Aviv was ranked 25th. The average room price in Tel Aviv rose to UKpound122 in the first half of 2009 from UKpound102 in the first half of 2008.
The figures will undoubtedly interest Fattal Hotel Management Ltd., which acquired Azorim Tourism Ltd. from Shaya Boymelgreen's Boymelgreen Capital Ltd. (TASE:BMGN) and its subsidiary Azorim Investment, Development and Construction Ltd. (TASE: AZRM), for NIS 270 million two months ago. The deal gives Fattal 12 more hotels in Tel Aviv, Jerusalem. Eilat, Tiberias, the Dead Sea, and Bat Yam.
The figures will also interest any buyer of Africa-Israel Hotels Ltd., which Lev Leviev-controlled Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY) put up for sale earlier this year. Africa-Israel Hotels owns ten hotels, operating under the Crowne Plaza and Holiday Inn brands.
Hotels.com reports that, based on room prices priced in pound sterling, the average room price in Moscow were 36 percent lower in the first half of 2009 from the first half of 2008, at UKpound167 per night. The average room price fell 39 percent in Belfast, and fell 17 percent in Las Vegas to UKpound59 per night.
The average room price in Abu Dhabi and Istanbul both rose 15 percent to UKpound173 and UKpound107, respectively, and the average room price in rose by 2 percent in Paris and Rome to UKpound109 and UKpound110, respectively.
Hotels.com is an affiliate of Expedia Inc. (Nasdaq: EXPE). The Hotels.com Hotel Price Index (HPI) is a regular survey of hotel prices in major city destinations across the world. The HPI is based on bookings made on Hotels.com and prices shown are those actually paid by customers (rather than advertised rates) in the first six months of 2009. The HPI is compiled from all relevant transactions on Hotels.com, in local currency, weighted to reflect the size of each market.
To see more of the Globes or to subscribe to the newspaper, go to http://www.globes-online.com. Copyright (c) 2009, Globes, Tel Aviv, Israel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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