Hotels.com Price Index Returning to Pre-Crisis Levels
The average global hotel room rate rose by 2 percent, year-over-year, in the first half of 2013, according to the Hotels.com Hotel Price Index. The increase follows a steady trend of recovering rates since 2010, with prices now close to Hotel.com's 2006 levels. Latin America led all regions, with a 7 percent gain over last year; the Caribbean rates rose by 5 percent, and North American rates grew by 3 percent. Australia and Europe both performed below the global average, with rate increases of 1 percent. Asia saw hotel rates fall by 2 percent, despite some individual cities' strong performance. According to Hotels.com, that was due largely to the depreciation of the yen and the rupee, coupled with a decrease in the number of inbound visitors to China.