The Hotel Price IndexReview of hotel prices in 2009

IntroductionThe Hotel Price Index (HPI) is a regularThe international scale of (in termssurvey of hotel prices in major destinations acrossof both customers and destinations) makes thethe world. The HPI is based on bookings made onHotel Price Index one of the most and prices shown are those actuallybenchmarks available, as it incorporates both chainpaid by customers (rather than advertised rates)and independent hotels, as well as options such asin 2009.self-catering and bed and breakfast properties.Now in its seventh year, the HPI is respected asIn Europe, approximately 25% of hotel roomsthe definitive report on hotel prices paid around theare part of a chain, the remainder beingworld and increasingly used as a reference tool byindependent. The reverse is true of the US, in whichmedia, analysts, tourism bodies and academics.approximately 70% of hotel rooms booked are in The HPI tracks the real prices paid per roomby customers around the worldusing a weighted average based on the numberof rooms sold in each of the markets operates in. Approximately 94,000 properties in more than16,000 locations make up the sample set ofhotels from which prices are taken.iiThe Hotel Price Index Review of hotel prices in 2009chain properties. In addition to the standard survey,the HPI includes occasional features on new orunusual booking and pricing trends.

Step inside thetime machine Step inside the time machine, turn the dial backWhile 2009 turned out to be the year of the deal,to 2003, and compare hotel prices then and now.some cities did see the actual prices paid byWhat’s changed? Not much. Our latest Hotel Pricetravellers rise. Sometimes explained by currencyIndex, covering all of 2009, shows that prices fellmovements, the rises were also a result of peopleglobally by 14% on already weak 2008 figures,paying a little more to move up a star rating.bringing consumer prices back to levels not seenThe gap in price between 3, 4 and 5 star hotelssince 2003. The rate of decline grew less steep overnarrowed in 2009, meaning travellers could tradethe year – from 16% down in Q1 to 7% down in Q4up and enjoy luxury for less than ever before.– essentially the only silver lining for hoteliers in whatSome destinations benefitted from the currencywas a very bad year for the industry.fluctuations, such as London, for example, whichUnderlying this trend are some basic economics.Supply is still rising – there were 4000 hotel roomsadded in Manhattan in just 12 months. Demandis falling, hit by a severe reduction in businesssaw an influx of visitors taking advantage of thecheaper Pound. Occupancy rates in the Britishcapital stood at a very healthy 82.9% at the endof the and weaker consumer spending. The result:2010 looks set to be the year when hotel pricesunprecedented falls in hotel prices.stop falling, but despite some early indicationsDigging deeper into the data, we can see manynew trends emerging. Domestic tourism offset thelosses for some destinations as travellers decidedto explore their home turf. Visitor numbers to NewYork were down just 3.9% in 2009 instead of theof recovery (in occupancy mainly) in Q4 2009,few hoteliers expect any significant price rises.The traveller is set fair then for another year ofextraordinary value. Just climb inside your timemachine and see.expected 5%-10% as the Big Apple became moreDavid Rocheaffordable and accessible than ever before forPresident of Hotels.comdomestic American travellers. London drew recordnumbers of Middle Eastern visitors who enjoyedfive star hotels for longer periods. And MonteCarlo became the most expensive destination inthe world, outranking heavyweight cities that havepreviously held the most expensive crown likeMoscow, Dubai and New York.The Hotel Price Index Review of hotel prices in 20091

In the HPI report, we focus on two main sourcesThe report compares prices paid in the whole ofof data:2009, with prices paid in the same period the yearThe first section (chapter 1) shows the globalHotel Price Index up to and including Q4 2009.The Index is compiled from all relevant transactionson, in local currency, weighted to reflectthe size of each market. By representing hotel pricemovements in an index, can illustratethe actual price movements as experienced byconsumers without foreign exchange fluctuationsdistorting the picture.The Index was started in 2004 at 100, and includesall bookings across all star ratings.2The Hotel Price Index Review of hotel prices in 2009before, thereby removing the effect of seasonality.The second section (chapters 2-6) shows hotelprices across the world as paid by Australiantravellers in Australian Dollars. This shows thechanges in real prices paid by consumers, reflectingboth movements in exchange rates and hotelpricing. The prices shown are average pricespaid by travellers in the whole of 2009.

Contents1. Global price changesOverallBy region2. Price changes in global city destinationsPrices across the world’s top citiesMost expensive destinationsHighest price rises and falls3. City focus sectionsNew YorkLondonEastern EuropeDubaiBeijingShanghaiSingapore4. Focus on Australian cities5. Where to go for 200 per night6. Average room prices by star ratingThe Hotel Price Index Review of hotel prices in 20093

1. Global price changesThe average price of a hotel room was 14% cheaper in 2009 than in 2008, according to the Hotels.comHotel Price Index (HPI).In fact, a hotel room was cheaper in 2009 than it was in 2004, when the HPI began.Rooms cost 13% less in Europe during 2009 than in 2008, 14% less in the U.S, 16% less in Asia and 21%less in Latin America.However, towards the end of 2009, the price falls started to level off. The average price of a hotel room fellby just 7% year-on-year in Q4 2009, compared to 14% in Q3, 17% in Q2 and 16% in Q1.Hoteliers will be heartened that the market was showing signs of stabilising by the end of 2009, however,hotels around the world were still offering great value for travellers.Figure 1 HPI quarterly breakdown for average annual prices paid 2004 to 05200620072008200920042005200620072008200980Asia PacificEuropeLatin AmericaNorth AmericaGlobalThe Hotel Price Index Review of hotel prices in 2009

Figure 2 HPI quarterly breakdown Q1 2004 to Q4 200913012011010090Q4 09Q3 09Q2 09Q1 09Q4 08Q3 08Q2 08Q1 08Q4 07Q3 07Q2 07Q1 07Q4 06Q3 06Q2 06Q1 06Q4 05Q3 05Q2 05Q1 05Q4 04Q3 04Q2 04Q1 0480Asia Pacific – last into the crisis and last out? According to the Hotel Price Index, Asian hotels are still experiencing the effects of the downturn –and remained hard-hit by falling prices in Q4 2009. Prices in Asia Pacific hotels – which had held up longer than those in the U.S. or Europe – continued totumble in Q4 2009, falling 19% when compared to the same period one year earlier. Unlike other regions, the level of price fall experienced by Asia Pacific hotels accelerated in Q4 2009compared to the previous periods, whilst the rate of decline slowed in every other part of the world. The 19% drop experienced in Q4 2009 was steeper than the 17% y-o-y fall experienced in the secondand third quarters and the 15% y-o-y fall in Q1 2009.The Hotel Price Index Review of hotel prices in 20095

Figure 3 HPI by quarter, by region, Europe, N. America, Asia Pacific, the Rest of the World 2004-Q4 2009Asia orthAmerica1002009 Q42009 Q32009 Q22009 Q12008 Q42008 Q32008 Q22008 Q12007 Q42007 Q32007 Q22007 Q12006 Q42006 Q32006 Q22006 Q12005 Q42005 Q32005 Q22005 Q12004 Q42004 Q32004 Q12004 Q280European price falls lessen as 2009 progresses Prices paid by travellers for hotel rooms in Europe fell by 6% in Q4 2009 compared to Q4 2008 as hotelierscut their prices in an effort to stimulate occupancy rates during the winter season and the downturn. The rate at which hotel prices fell slowed in Q4, offering some relief to hoteliers. Prices had dropped by14% year-on-year in Q3, by 16% in Q2 and by 15% in Q1 2009. The Hotel Price Index for Europe fell to 96 in Q4 2009 – down from 102 a year before: a stark illustrationof how sharply hoteliers had to cut prices to create attractive offers for travellers. Hotel rooms are now 4% cheaper across Europe than they were in 2004, when the Hotel Price Indexwas started.North American prices fall throughout 2009 but is an end in sight for hoteliers? Prices paid by travellers for hotel rooms in North America (the U.S. and Canada) fell 7% comparingQ4 2008 and Q4 2009. However, there was a slowdown in the rate of price-cuts as 2009 progressed. Prices dropped by 16%y-o-y in Q1, 17% y-o-y in Q2 and 13% y-o-y in Q3. Falling hotel prices across North America reflect the impact of the economic slowdown and thereduction in demand for hotel rooms this caused. The lower number of overseas tourists to the U.S. plusdampened domestic demand contributed to falling occupancy and hotel prices. Prices for hotels in the Caribbean fell by 2% year-on-year during Q4 2009. Prices across Latin America fell furthest and fastest in the Americas at the end of last year.They slumped by 10% in Q4 2009 when compared to the same period the previous year.6The Hotel Price Index Review of hotel prices in 2009

2. Price changes in globalcity destinationsThis section (and those that follow) reflect the real AU prices paid by travellers from Australia in 2009 –compared to prices paid in AU during 2008.With just a very few, isolated exceptions, worldwide hotel prices dropped substantially for Australiantravellers during 2009, the Hotel Price Index found. Indeed, of the tens of major citydestinations analysed by, just four cities showed increases in average prices in 2009(when compared to 2008).Hotel prices in New York were the most expensive for Australian travellers during the year, despite pricesthere falling by 13%. Australians spent an average of 279 per night for rooms in the city’s hotels across2009, a reflection of the pulling power of the city’s upscale hotels.Venice was the city in which Australians spent the second greatest sums, parting with 260 per night inthe city (down 16% from, 309 per night in 2008).It is drops in average prices that characterise the price trends across Australians’ favourite cities. Theyspent around 40 per night less on rooms in New York during 2009 and 50 less in Venice – a sign oftightening times in travel.The Hotel Price Index Review of hotel prices in 20097

Figure 4 Average hotel prices in 2009, compared to 2008City8AverageAverage priceprice per room per room per % Changeper night 2009 night 2008year-on-yearCityAverageAverage priceprice per room per room per % Changeper night 2009 night 2008year-on-yearNew York 279 321-13%Hong Kong 162 190-15%Venice 260 309-16%Madrid 159 196-19%Paris 235 241-3%San Diego 157 181-13%Boston 231 268-14%Perth 154 1521%Rome 225 248-9%Toronto 152 179-15%Washington 217 229-5%Adelaide 148 173-15%London 214 238-10%Melbourne 148 177-16%Dubai 206 237-13%Berlin 147 164-10%Athens 206 212-3%Sydney 145 173-16%Copenhagen 205 252-19%Prague 142 175-19%Las Vegas 138 145-5%Dublin 137 184-26%Amsterdam 204 236-13%Munich 199 1877%Tokyo 197 223-12%Gold Coast 135 157-14%Stockholm 197 229-14%Phuket 132 137-4%Honolulu 191 203-5%Shanghai 131 143-9%Chicago 191 219-13%Beijing 128 165-23%Barcelona 189 229-17%Cairns 117 127-8%Miami 187 1775%Kuala Lumpur 116 127-8%Los Angeles 187 1861%Orlando 116 126-8%Singapore 184 228-19%Bangkok 113 128-12%Seattle 179 186-4%Auckland 107 138-22%Christchurch 102 114-10%San Francisco 172 187-8%Vancouver 172 193-11%The Hotel Price Index Review of hotel prices in 2009

Figure 5 The world’s most expensive cities in 2009, compared to 2008Average price per roomper night 2009Average price per roomper night 2008% Change year-on-yearNew York 279 321-13%Venice 260 309-16%Paris 235 241-3%Boston 231 268-14%Rome 225 248-9%CityWashington 217 229-5%London 214 238-10%Dubai 206 237-13%Athens 206 212-3%Copenhagen 205 252-19%The world’s most expensive cities The broad trend among the world’s most expensive cities was that average prices paid by travellersfell between 2008 and 2009 and all of the world’s ten most expensive cities saw average prices drop. Joining these European centres is Dubai, which enjoyed a combination of business and leisurepatronage from Australian travellers during 2009 and became considerably cheaper throughoutthe year.The Hotel Price Index Review of hotel prices in 20099

Figure 6 The biggest price rises in 2009, compared to 2008CityMunichAverage price per roomper night 2009Average price per roomper night 2008% Change year-on-year 199 1877%Miami 187 1775%Perth 154 1521%Los Angeles 187 1861%The greatest price rises among the world’s top cities Prices in just four of the major global city destinations rose between 2008 and 2009. The average amount spent by Australian travellers on hotel rooms in Munich rose 7% between 2008and 2009, while prices in Miami rose by a similar degree (up 5%). Prices in Perth and Los Angeles wereboth up 1% year-on-year. However, the modest rises and the small number of destinations to experience any increase in averageprices paid is a reflection of a broader trend of consumers spending less on their travels in 2009.10The Hotel Price Index Review of hotel prices in 2009

Figure 7 The biggest price falls in 2009, compared to 2008Average price per roomper night 2009Average price per roomper night 2008% Change year-on-yearDublin 137 184-26%Beijing 128 165-23%Auckland 107 138-22%Singapore 184 228-19%Prague 142 175-19%Copenhagen 205 252-19%Madrid 159 196-19%Barcelona 189 229-17%Melbourne 148 177-16%Venice 260 309-16%CityThe greatest price falls among the world’s top cities The average prices of hotel rooms for Australian travellers to Irish capital Dublin fell steepest in 2009,down by some 26% on 2008 to just 137 per night – a reflection of a broader trend in the city asdemand fell and hoteliers lowered prices to fill rooms. Other major European destinations in the top fallers table include Prague, Madrid and Copenhagen(where prices were down 19%) and Barcelona (where they were down 17%). Prices fell 16% in Melbourne, which meant that it too found its way into the global list of top-fallers.The Hotel Price Index Review of hotel prices in 200911

Global hotel prices 2009 235 279NEW YORKPARIS13% 189 117%BARCELONA 1871%LOS ANGELES123%The Hotel Price Index Review of hotel prices in 2009MAD

159DRID 214LONDON10% 137DUBLIN 147BERLIN26%10% 128BEIJING 225ROME23% 1979%TOKYO 206DUBAI12%13% 13119%SHANGHAI 1629%15%HONG KONG 11312% 18419%BANGKOKSINGAPORE 145SYDNEY16%Source: Hotels.comThe Hotel Price Index Review of hotel prices in 200913

3. City focus sectionsFocus on New YorkAs hotel rates fell in New York in 2009, domestic and foreign visitors alike made the most of the great newpromotions. The year began with room rates down sharply, with 4 star hotels leading the way with ratereductions. Soon, other hotels followed suit and from June onwards even five star hotels had great offersfor summer travellers such as stay-three-pay-two-night offers.Corporate travel was squeezed in 2009 meaning more good news for leisure travellers as mid-week roomsbecame more affordable and available. Tourists soon realised they could afford more for their money, andluxury hotels saw bookings rise accordingly. Travellers traded up but they also stayed longer as they reallytook advantage of their newfound spending power.Savvy travellers, particularly from the domestic US market and Asia Pacific, took advantage of late dealsand package promotions. Visitor numbers from Europe remained flat.Plans for new hotel openings came to fruition in 2009 with 4000 rooms added on Manhattan in just12 months. This meant visitors to the city had even more chance of finding a great value room. As 2009came to a close, room rates started to recover, spelling better news for hoteliers if not travellers.14The Hotel Price Index Review of hotel prices in 2009

Focus on LondonVisitors to London enjoyed a year of great hotel deals in 2009 with rates at their lowest level for five years.Four-star hotels lowered their rates to the level of three-star properties and five star hotels had to offer greatincentives to compete. Free entry to most major museums and art galleries in the capital added to thecity’s appeal.Although the first six months of 2009 were tough for hoteliers, favourable exchange rates for US andEuropean travellers helped the hotels fill their rooms in the latter part of the year. Visitors flocked from theMiddle East and Europe to take advantage of the weakness of the Pound and enjoy the UK capital for lessmoney than ever before. London also received a boost in numbers of domestic UK visitors as they choseto holiday at home where their money went further.By November 2009, the year-on-year decline in room rates started to tail off, partly due to the fact thatprices were already lower in November 2008. London hotel occupancy stood at a very healthy 82.9%by the end of the year, according to Deloitte.The Hotel Price Index Review of hotel prices in 200915

Focus on Eastern EuropeTravellers to Eastern Europe enjoyed record low rates in 2009 as hoteliers dropped prices dramaticallyin a bid to fill their rooms. Cities across Eastern Europe that rely heavily on business travellers sufferedmost in the downturn as companies cut travel budgets to rein in costs. Holiday destinations fared slightlybetter, though visitor numbers from the UK, usually a strong market, were down in 2009, as the recessionencouraged people to holiday nearer home, the rise of the so-called ‘staycation’.With declining oil prices and the economic slowdown, hoteliers in Moscow lowered their rates fromthe start of 2009. This decision to lower rates early in the year proved a good one as it meant that theymanaged to attract a steady number of visitors throughout the year and maintain occupancies.It was a great year for visitors to Riga as hoteliers lowered prices dramatically to try to fill rooms. Theopening of new hotels and the lack of any direct flights into Riga from major European capitals added to thechallenge for hoteliers.Bucharest and Warsaw both saw dramatic price drops in 2009 as their hotels rely heavily on businesstravellers.Prices also fell in the holiday destinations of Tallinn, Budapest, Krakow and Prague. Visitor numbers toPrague remained high throughout the year, but a steady flow of new hotel openings meant 5-star hotels inparticular had to compete for customers with increasingly attractive promotions. Visitor numbers to Tallinnfell in 2009 as a few major airlines stopped flying to the city. Its proximity to Helsinki though and its relativeaffordability for Finnish travellers, meant weekend business from Helsinki provided a much needed boost.16The Hotel Price Index Review of hotel prices in 2009

Focus on DubaiThe Emirate city of Dubai lost some of its sparkle in 2009 as the economic slowdown affected the city andhotels were forced to lower their rates. Business travel and the convention industry, two important marketsfor Dubai hotels, were both affected by the downturn, meaning hoteliers had to look for new ways to fill theirrooms. Rate cuts started from January onwards and by the middle of the year hotel prices were at a recordlow. While hotel construction slowed down, new hotels did continue to open, adding to the challenge offilling rooms.By the Q3 2009, usually peak conference and exhibitions season, room rates in the city started to recovera little, however the expected post-Ramadan boost in visitor numbers didn’t materialise and in November itwas further thwarted by negative news coverage surrounding Dubai’s economic problems.The visitor profile to Dubai changed during 2009. While business and convention travel slowed down,the number of leisure travellers increased, taking advantage of the cut price luxury. The number of Italianand Scandinavian visitors grew as a result of direct flights into Dubai, while media promotions in Germanymeant it, along with France, remained a strong market. The rate of growth in UK visitor numbers tailed offdue to the recession, but domestic visitors from the local Middle Eastern market increased.Dubai became more affordable in 2009, meaning its year-round sunshine and luxury hotels wereaccessible to an even wider audience.The Hotel Price Index Review of hotel prices in 200917

Focus on BeijingBeijing offered great value for travellers in 2009. Room rates fell steeply by up to half the level they hadbeen in 2008 when the city hosted the Olympics. The economic recession coupled with the tightening ofvisa restrictions and over-supply of rooms (20,000 new rooms were added in 2009) further fuelled the dropin hotel rates in the city.The most dramatic falls were in the top end hotels with 4 and 5 star hotels competing for business. Thiswas great news for visitors who could now afford to stay at the city’s fabulous hotels they could neverbefore afford.The low prices proved particularly attractive to travellers from Taiwan. The numbers of Taiwanese visitorsto Beijing rose by 40% in the first half of 2009, compared to a year earlier. Mainland China became the firstchoice in Asia for travellers from Taiwan, trumping Japan and Hong Kong.18The Hotel Price Index Review of hotel prices in 2009

Focus on ShanghaiHotels in Shanghai, the financial capital of China, fared rather better than in Beijing, with room ratesdropping less steeply. This is partly explained by the fact that rates were not as high as Beijing’s in 2008,as Shanghai did not host the Olympics.In April 2009, Shanghai hosted the F1 Chinese Grand Prix which helped boost visitor numbers to the city.In the second half of the year business travel showed signs of recovery and the average occupancy for theyear remained a fairly healthy 60-63%.The Hotel Price Index Review of hotel prices in 200919

Focus on SingaporeIn the first six months of 2009 Singapore saw a steep decline in visitor arrivals and hotel room occupancies.To continue to attract visitors hotels dropped their rates dramatically. Four star hotels reduced their ratesthrough rate decreases in combination with attractive promotional offers to the level of 3-star hotels.This forced both 3 and 5-star properties to also reduce their rates which caused a domino effect thatdecreased overall ADR’s for the city in local currency by as much as 28% year-on-year in June and 22.3%for 2009 overall.Singapore is traditionally a corporate driven market with high occupancies during weekdays and loweroccupancies during weekends. With a sharp decline during 2009 in corporate, group and mice businesshotels that previously only reduced rates and offered promotions to attract travellers during weekends,now also made those discounted rates available during weekdays contributing to the overall decline inADR. Visitor numbers from Australia remained steady, making it the third largest visitor-generating market,mainly thanks to a stronger currency and lesser impact by the global downturn.Though the average occupancy rates started to climb back up by June 2009 a shorter than usual bookingwindow made it difficult to forecast. As a result hotels have been reluctant to increase rates again eventhough visitor arrivals into Singapore showed a growth in the last quarter of the year. Especially for theFormula 1 period rates were low compared to the F1 opening year of 2008 (-31.2% in local currency).20The Hotel Price Index Review of hotel prices in 2009

4. Focus on Australian cities Prices for hotels in the major Australian cities fell across the board between 2008 and 2009 – with mostexpensive Australian city Perth the only exception (where prices rose by a modest 1%). Hotels in Perth were the country’s most expensive (at 154 per night on average, up from 152 a yearbefore). Adelaide was second in this list, where prices dropped 15% year-on-year to average 148in 2009. In Melbourne and Sydney prices were down by 16%. Melbourne prices averaged 148 (down from 177 a year before), while prices in Sydney fell to an average 145 (from 173 a year before). Cairns hotels were Australia’s least expensive as Australian travellers spent just 117 per night for aroom in the city’s hotels in 2009.Figure 8 Average room prices and changes in 2009 for major Australian destinationsCountryAverage price per roomper night 2009Average price per roomper night 2008% Change year-on-yearPerth 154 1521%Adelaide 148 173-15%Melbourne 148 177-16%Sydney 145 173-16%Gold Coast 135 157-14%Cairns 117 127-8%The Hotel Price Index Review of hotel prices in 200921

5. Where to go for 200 per nightPeople in search of luxury with 200 per night to spend on a hotel room are now spoilt for choice whenit comes to finding luxury for less. From Marrakech to Mexico City and from Seoul Aires to Santiago,Australian travellers can enjoy a night in a five star room.Figure 9 The star rating that can be purchased by travellers spending 200 or 100 per night in the world’stop citiesCity22What star rating 200 What star rating 100per night will buy inper night will buy ineach city’s hotelseach city’s hotelsCityWhat star rating 200 What star rating 100per night will buy inper night will buy ineach city’s hotelseach city’s hotelsBuenos Aires5.02.8Singapore4.12.3Cape rdam3.91.7Mexico City5.02.8Chicago3.81.8Orlando5.02.5San .61.9Los Paris2.81.7Las Vegas4.33.2Boston2.71.6Vienna4.32.7Rio De Washington1.91.5Dubai4.22.5New York1.71.0Hong Kong4.12.6The Hotel Price Index Review of hotel prices in 2009


6. Average room prices bystar analysed the average prices paid for hotel rooms across different star ratings in the world’s topcities. The data demonstrates where Australian travellers can find the best bargains. It also shows thosecities where shopping around for the best deal can yield dividends: in some cases, travellers can end uppaying more for a property with a lower star rating, according to 10 Average hotel room prices by star rating during 2009City24Average price of two star Average price of three star Average price of four star Average price of five starroom per night 2009room per night 2009room per night 2009room per night 2009Amsterdam 135 173 205 367BaliN/ABangkokN/AN/A 170 304 71 140N/ABarcelona 141Beijing 58 198 197 299 86 126 284Berlin 105 128 154 233Boston 172 210 288N/ABudapestN/A 126 139 223Buenos AiresN/A 133 186N/ACancunN/A 219 217N/ACape TownN/A 101 137 200Chicago 130 181 204N/ACopenhagenN/A 203 225N/ADubai 88 110 171 308DublinN/A 127 149N/AEdinburgh 160 179 211N/AFrankfurtN/A 126 173 248Hong Kong 68 118 181 319Las Vegas 52 86 175 260London 131 177 246 386Los Angeles 126 173 282N/AMadridN/A 152 159N/AMelbourne 97 139 174N/AMexico CityN/A 119 155N/AMiami 146 172 282N/AMontrealN/A 163 222N/AMunich 173 194 200N/ANew York 222 288 400N/ANice 144 185 314N/AOrlando 62 132 181N/AOsloN/A 191 225N/AThe Hotel Price Index Review of hotel prices in 2009

CityAverage price of two star Average price of three star Average price of four star Average price of five starroom per night 2009room per night 2009room per night 2009room per night 2009Paris 152 216 354N/APragueN/A 102 140 258Rio De Janeiro 183 241N/AN/ARome 175 200 241 487San Francisco 131 173 210N/ASeattle 135 184 241N/ASeoulN/A 118 174N/AShanghai 59 97 141 269Singapore 75 155 190 331StockholmN/A 180 201N/ASydney 99 129 183N/ATokyo 142 177 277N/AToronto 114 151 185N/AVancouver 121 159 228N/AVenice 209 240 308N/AViennaN/A 144 168N/AWashington 214 212N/AN/AThe Hotel Price Index Review of hotel prices in 200925

About Hotels.comAs part of the Expedia group which operates in all major markets, offers more than 110,000quality hotels, B&Bs and serviced apartments worldwide. If a customer can find the same deal for lesson a prepaid hotel, will match it. benefits from one of the largest hotel contractingteams in the industry negotiating the best rates for its customers, plus there are 1.8 million reviews fromusers who have actually stayed in the hotels to ensure customers make an informed choice when booking.Travellers can book online or by contacting one of the multilingual call centres on 1300 733 808.The company currently operates more than 70 sites around the world including 13 sites in8 languages across Asia Pacific.Thousands of people book bed nights through every day.For further informationFor more information/press enquiries or spokespeople, please contact:Evan Petrelis, 61 2 8920 0700; [email protected] Miller, 61 2 8920 0700; [email protected] Jago, 61 2 8920 0700; [email protected] Hopcraft, 44 (0)20 7019 2165; [email protected] 2010, L.P. The Hotel Price Index (HPI), this report and its contents are the contents are the copyright of, L.P. All rights reserved.Any reproduction of this report or its contents must acknowledge as the source.

The Hotel Price Index . Review of hotel prices in 2009. The Hotel Price Index (HPI) is a regular . survey of hotel prices in major destinations across the world. The HPI is based on bookings made on and prices shown are those actually paid by customers (rather than advertised rates) in 2009.File Size: 1MB