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World hotel prices at lowest level in five years
Hotel prices around the world fell…
September 15, 2009 1:18 by kippreport
Hotel prices around the world fell 17 percent to their lowest level in five years during the first half of the year, according to the latest Hotel Price Index released by Hotels.com. “The dampening effect of falling consumer demand has been compounded by sharply increased hotel capacity,” David Roche, the president of Hotels.com said in the foreword.
According to the index, hotel prices in Dubai fell 26 percent in the first half of this year as compared to the same period last year for those paying in US dollars, but only 4 percent for those paying in UK pounds.
Hotel rates in Abu Dhabi decreased by 9 percent year on year for those paying in US dollars, but increased 15 percent for those paying with UK pounds.