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10.06.2009 12:42 pm

Hotel Prices Fell in First Half of 2009

St. Louis Post-Dispatch
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The sluggish economy has a few benefits for travelers, including a decline in the average price of a hotel room.

The Hotel Price Intex, a report put together by hotels.com, looked at approximately 78,000 properties in more than 13,000 locations, with a focus on the first half of the year.

The report tracks the actual prices per room that travelers pay in chain and independent hotels, as well as specialty lodging options.

The survey shows that the average price of a hotel room in the United States fell by 17 percent in the first six months of 2009.

The survey found that New York City and Las Vegas experienced the nation’s greatest drop in room rates, with each destination down 30 percent compared to the same period the previous year.

Las Vegas overtook New York City as the favorite domestic destination with room rates costing an average of $82 a night.

For Americans venturing outside the country, London surpassed Toronto as the most popular destination.

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One comment

yeah.I have heard that the dampening effect of falling consumer demand has been compounded by sharply increased hotel capacity. In the first half of 2009 an ever larger number of hotel rooms chased a dwindling stream of customers, and this ‘double whammy’ lowered prices.As demand fell, hoteliers closed floors and cut back both services and prices, creating a market with a distinctly promotional character that is likely to endure for some time.

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9:49 pm November 15th, 2009