Hotel prices continue to plummet to record levels
The Italian island of Capri was able to get away with charging the world’s highest hotel rates during a recent six-month period — US$279 a night, up 12 percent compared to last year.
But they are the exception to worldwide hotels internationally who have dropped their prices to the lowest average in six years.
The latest Hotel Price Index (HPI), by Hotels.com found average room prices across the globe fell 17 percent in the six months to June compared to the same 2008 period, and to the same levels as 2003, as the economic crisis kept away guests.
Moscow saw the steepest fall in prices — more than 50 percent — followed by Mumbai.
But with the exception of Capri, the rest of the world’s 10 most expensive destinations saw dramatic falls in prices paid by travelers compared to the same year-ago period.
"Not since 2001, in the aftermath of 9/11, has there been such a collapse — surely the word is justified — in global hotel prices," said David Roche, hotels.com president.
"It’s a fantastic time for travelers," said Nigel Pocklington, vice president for Hotels.com.
By David Wilkening
David
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