Global hotel prices up by 2 per cent in second financial quarter of 2010

PANAJI: Global hotel prices rose by two percent in second financial quarter of 2010 compared to the same period a year earlier, a survey by a renowned hospitality website said.

The latest Hotel Price Index (HPI) by hotels.com revealed that this is for the first time that hotel prices rose Year-on-Year after seven consecutive quarters of price falls since the end of 2007.

The survey mentions that prices had fallen so low during 2009 that despite the modest increase, the average price of a hotel room was still lower than it was in 2004.

The hotels.com HPI is a regular survey of hotel prices in major destinations across the world.

The HPI is based on bookings made on hotels.com and prices shown are those actually paid by customers in the first half of 2010.

In yet another aspect related to hospitality sector, the survey noted that Indian travellers spent on average Rs 6,816 when travelling overseas during Q2 2010, slotting them at number seven in the list of the world's biggest spenders abroad.

The average price paid for a room in New York by Indian travellers was Rs 10,783 during Q2 2010, a rise of 20 per cent on the same period a year earlier.

Las Vegas hotels saw the amount Indian travellers paid for their rooms rise some 31 percent between Q2 2009 and Q2 2010 to average Rs 6, 100 this year.