The Mirage Hotel in Las Vegas

In 2008 prices for rooms in hotels fell by 12%

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One of the biggest portals in the field of online booking - hotels.com - brought some results of year 2008. According to data, which hotels.com received, after processing of represented proposals, the average cost of rooms in hotels around the world fell by 12% compared to 2007. The index of hotel prices in 2008 was one of the lowest in the last four years.

Prices for the hotels only in December 2008, according to hotels.com, declined relative to December of the last year by one-tenth. Below the hotel price index was only in 2004.

The fall of prices by 12% in 2008, was noted almost everywhere. In hotels in North America one of the biggest falls in prices was recorded - the reduction by 12% was noted in the region during the 4 quarters of 2008. After North America follows Europe, where the reduction of prices made up 10%. Hotels resorts of the Caribbean in 2008 lost about 7% of the cost of their rooms. Against this background, Asian hotels look «almost fine» - the decline in the Asian hotel industry is only 2%. Nevertheless, during the 4 years that have elapsed since the appearance of the index of hotel prices at hotels.com, price declines in Asian hotels were marked for the first time.

The index of hotel prices was calculated by hotels.com according to the prices of rooms, which were actually paid by tourists. The price index for hotels on hotels.com - is one of the most objective indicators of the industry to date. It is calculated for more than 60 thousand hotels in the 12 thousands of settlements all over the world.

It was expected that trend to price reduction in the hotels will remain in 2009.

Date: 25/03/2009