Global Hotel Rates in 2007
- Hotels.com Hotel Price Index (H.P.I.) is a regular survey of hotel prices in major destinations across the world. The HPI tracks the real prices paid per room for a wide basket of hotels, weighted to represent hotels in every star category in major destinations. Approximately 60,000 hotels in over 6,500 locations make up the sample of hotels from which prices are taken. The prices shown are those actually paid by customers (rather than advertised rates) and therefore give an accurate reflection of hotel prices for the period.
As you would expect there are some interesting results for 2007.
- Average hotel rates were generally flat for the world as a whole in 2007. Prices in Europe and Asia rose by 4.5% and 3.3% respectively, while prices in the US and the rest of the world fell.
- Room rates in Ireland remained the same last year as in 2006; probably reflecting increased capacity and competition.
- Within Europe, the UK tops the list of most expensive destinations ahead of Norway, Switzerland, Italy, Denmark, Sweden, the Netherlands, Austria, Greece, Finland and France, in that descending order.
- Next in 12th place is Ireland, just ahead of Spain, Belgium, Slovakia, Germany and Portugal.
- The UK posted year-on-year (2006 vs. 2007) price rises of 12%, according to Hotels.com. This drove average room rates to £106 per night, making it the most expensive country to stay in for travellers in 2007, and the only one where the AVERAGE cost of a room is over £100 per night.
- At the other end of the scale, Orlando was the cheapest of the major cities used in the survey with room prices averaging £55 (the rate of exchange would have something to do with that). Other “bargains” were Bangkok at £58, Shanghai at £61, Beijing at £66 and Buenos Aires at £70.
- The most expensive cities were Moscow at £194 followed by New York at £143, Dubai and Venice were next at £125, while London was the 5th most expensive at £115.
- Dublin came in 34th position at an attractive average room price of £78, behind such cities as Edinburgh, Rome, Paris, Boston, Sydney, Madrid, Hong Kong and many other.
- Coming closer to home the survey finds that while London was 5th highest of the major world cities, it was only in second place in the UK, coming in behind beautiful but expensive Bath at £117. Oxford was in 3rd position at £113 while surprisingly (perhaps) next was Aberdeen at £109.
- Coventry became the cheapest city in the UK during 2007 at an average of just £57 per night. Now do you think the Munster fans will get rates like that when they travel to the semi-final in the Ricoh Stadium to do the business with Saracens at the end of this month? Dream on…..
- The report also finds that prices in Ireland in 2007 were flat year-on-year, and that Limerick saw the biggest drop, achieving an average room rate of £56, which was down 22% on 2006. It suggests the reason being that the city has seen a number of new hotels open up creating opportunities for bargain hunters.
- Galway on the other hand topped the Irish league at £94 per night on average, followed by Cork at £85. You might find it surprising that both were ahead of Dublin at £79.
- Hotel.com looked at what different nationalities spend on their hotel rooms, and here you are in for a surprise. Irish travellers were Europe’s biggest spenders, prepared to spend £99 on hotel rooms on average when travelling overseas. They topped UK travellers who spent on average £93.
- The Irish also spent the highest amount in some of the most popular destinations – they were the biggest spenders when visiting Paris, Barcelona and Madrid.
- Germans are rather unsympathetically described as Europe’s cheapest visitors willing to part with just £82 per night on average when travelling abroad. Of course what that proves is that they are better bargain hunters, something we could well learn from.
- On balance it seems fair to conclude that Irish hotels offer good value, something that has been correctly highlighted by the Irish Hotels Federation for some time.
April 10th 2008
Irish Tourist Industry Confederation