WORLDWIDE The average price of a hotel room around the world rose 2% in the second quarter compared to the same period a year earlier, according to new data from online travel agency Hotels.com.
The second-quarter price increase is the first quarterly gain since the third quarter of 2008, the Expedia Inc. subsidiary says. However, hotel rates remain substantially lower than the peak pricing of 2004.
The vast majority of major city destinations analyzed by Hotels.com show increases in average prices in the second quarter year over year.
Hotel rooms in the Italian island of Capri grew 7% on average, costing US$267 per night, making it the world’s most expensive major destination.
With the exception of Venice (down 3%) and Moscow (down 8%), all of the top 10 most expensive cities worldwide saw prices recover in the second quarter, albeit from low bases.
Bali was the second most notable riser, entering the top 10 and becoming the eighth most expensive destination. It was up by 57% to an average of US$203 per night. Geneva came second in the expensive destination list, with a price rise of 8% to US$254.
New York was the most expensive U.S. city of those tracked in Hotels.com’s global list, with prices averaging US$224 during the second quarter, an increase of 14%.
Abu Dhabi was the biggest loser when it came to hotel prices, falling 46% from an average of US$304 down to US$163.