HOTEL PRICES INCREASED THIS YEAR

Samuel Dorsi - Sep 27, 2010
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Hotel room prices increased in most countries by two per cent in the second quarter of 2010. The highest average prices are in hotels in Capri, Geneva and New York.

Hotel prices have increased world wide by two per cent in the second quarter of this year in comparison to the same period last year. According to Hotel Price Index by Hotels.com, it is the first rise since 2007.  

According to the speaker of Hotels.com, Victor Owens, the prices have risen partially due to the improving economic situation, which helps to increase demand. Mr. Owens says that bookings have gone up all over the world. While during the first three months of the year prices in most regions of the world were dropping or remained unchanged, situation in the second quarter was better. Prices in Europe and Caribbean rose by one per cent, in America by three per cent and they stabilized in Asia.

The most expensive hotels are in Italian Capri where an average price for a night is 267 USD. Prague was 61st with average price around 126 USD, which is a seven per cent increase in comparison to the last year. Cheaper than Prague was Budapest, Warsaw but also Beijing and Las Vegas. The highest increase in prices, 57 per cent, has been recorded in Bali. Because of the world football cup, prices in Cape Town increased by 53 per cent to 180 USD per night.

The most profound decrease in hotel prices was, on the other hand, recorded in Abu Dhabi - 46 per cent. The reasons behind the process might be many new hotels that were opened there and also the number of business trips that dropped most likely because of the economic crisis. The crisis as well as the infamous volcano were the main reasons for 18 per cent price decrease in the capital of Iceland, Reykjavik. Prices also dropped in Moscow, Dubai, Budapest, Copenhagen, Cancun, Athens, Taipei and Dublin. None of the surveyed US cities, however, recorded a decline in prices.

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