According to the Hotel Price Index[TM], released by Hotels.com, travelers paid more on average for their hotel rooms during the first six months of 2012 in all parts of the world–for the first time in five years. The global 4% rise, compared to the same period the year before, demonstrated that the economic recovery in the hotel industry is well-established.
Launched in 2004, the Hotel Price Index (HPI) looks at prices that people actually paid for their hotel rooms around the world. During the first six months of 2012, prices rose across the board with Pacific rates up 6%, North America up 5% and Asia up 4% while Latin America as well as Europe and the Middle East experienced a slower trajectory, up 1%.
David Roche, President, Hotels.com, said: “The hotel industry bounced back in the first half of this year from a number of natural and political crises in 2011 and it is encouraging to see growth in the sector. While initially it may not seem like good news for consumers, hotel prices are still only around their 2005 level, representing great value for travelers when both wages and other prices have risen considerably.”
Still, consumers want a good deal, as do business travelers, in an age when more and more former employees have either chosen to become entrepreneurs or were forced to do so as a result of layoffs for increased profit margins.
In the U.S., increasing business travel combined with higher consumer spending meant hotels were busier with less need for discounting. Still, there are deals to be had for the savvy shopper.
“The Ritz-Carlton Hotels practice single-image inventory, which means that our pricing is the same in all vehicles including Ritz-Carlton.com, phone reservations and travel sites,” explains Iman Butler, Director of Sales and Marketing at The Ritz-Carlton, Tyson Corner. ”This allows our guests to feel confident that they have received a fair price and value for The Ritz-Carlton experience.”
But in the current age of Groupon, Travel Zoo and Living Social, where extreme deals are offered within a tight window of opportunity–the plot thickens! Case and point, AmazonLocal recently offered a steal of rate for two at $135 99 a night at The Omphoy, Palm Beach’s most uniquely luxurious beach front boutique hotel. But what happens if you miss out on the deal?
Steve Prial, Sales and Marketing Director at The Omphoy suggests it’s always best to call the hotel. ”Truth in advertising may not get you a better price, but there is a chance that you can negotiate additional perks such as a late check-out or room category upgrade, all of which is based upon availability.” While that advice may not do you any good in the midst of a Groupon special, it may come in handy beyond the expiration of the offer.
In addition, Hotels.com offers five suggestions for how to get your best deal on a hotel room here to go directly to the story or visit www.travelinginmyworld.com… When you visit, be sure to sign up on our email list for our email list for fun and useful information on travel, cars and wellness, including TRIPIN–a pictorial look at destinations visited around the world by yours truly, travel writer, Michael Andre Adams.