Hotel rates rise marginally
Posted: Thu 16 Dec, 2010 5:22 PM
The average price of a hotel room globally rose by just one per cent in the third quarter 2010, compared to same time last year. Despite prices stabilising in the second and third quarters this year, the average price of a hotel room in September 2010 was lower than it was in 2004, according to Travel Daily Singapore, that quoted the latest Hotel Price Index by Hotels.com
The report further stated that large business and convention hubs like Singapore, Hong Kong and Sydney have seen rates rise on the back of returning corporate and leisure travel demand. The China market has also seen a healthy rise in occupancies and price, largely driven by the Shanghai Expo. On the other hand, prices in Tokyo and Bangkok have not seen a similar recovery rate.
