SYDNEY, AUSTRALIA–(Marketwire – November 30, 2010) – HotelsCombined.com has revealed the HotelsCombined.com Price Index™ review of global hotel prices for December 2010. If you are looking for the best value accommodation deals, then the HotelsCombined.com™ Price Index is for you. Every month we scour our database of 2,500,000 hotel deals to bring you the biggest hotel destination reductions available over the upcoming month as well as year-on-year falls and rises.
Online HotelsCombined.com Price Index™ Review of Global Hotel Prices: December 2010 Report: http://press.hotelscombined.com/Price-Index/December2010.pdf
Biggest Price Falls in December 2010 Month-On-Month
Travelers looking to spend less money on accommodation over the next month can find great price reductions in the following global city destinations.
The sharpest hotel price decrease from November 2010 is in Dusseldorf, Germany (down 35.19% to $94.83).
The Rugby at the Millennium Stadium in November gave Cardiff hoteliers an excellent boost in demand levels and above average room rates with the pride of the Southern Hemisphere’s rugby union teams visiting, but the outlook for December is less buoyant with hotel rate cuts (down 24.26% to $112.56) — good news for travelers though.
In Asia, Guangzhou, host city to the 16th Asian Games in November, is now at an all-time low (down 25.75% to $61.95). And in Kyoto, Japan with the autumn foliage season coming to an end, prices have fallen by 20.59% (to $142.30).
In the US, with freezing rain headed for the ‘windy city,’ Chicago hotel prices have dropped to their lowest since January 2010 (down 19.09% to $116.32).
Biggest Price Falls in December 2010 Year-On-Year
The steepest price fall year-on-year is seen in Siem Reap, Cambodia (down 29.87% to $52.51). Despite December being a peak month when the majority of visitors descend on Siem Reap, gateway to Angkor Wat, hotel owners have reduced their margins in a bid to welcome many more tourists.
Another South East Asian city which saw steep declines is Ho Chi Minh City, Vietnam (down 26.42% to $66.47). This fall is possibly due to the country’s continual widening of trade deficits and consistent pressure on the national currency, which has been devalued three times in the past year.
Several destinations in Europe also saw large price decreases including Stuttgart, Germany (down 24.08% to $91.97), Bruges, Belgium (down 23.98% to $119.63) and Benidorm, Spain (down 22.84% to $74.81). A combination of the Stuttgart 21 protests and speculation of the financial crisis extending to Belgium and Spain are believed to be playing a part in the significant drops.
Biggest Price Rises in December 2010 Year-On-Year
The steepest hotel price rise year-on-year is seen in Bandung, Indonesia which has been affected the hardest by the exchange rate. Average room prices in Bandung are 9.67% cheaper in local currency than last year but travelers paying in USD will be disadvantaged, paying a whopping 70.75% more year-on-year with average room prices at $121.
Albufeira in Portugal is increasingly becoming a premier holiday destination and the increase in hotel prices is reflective (up 23.1% to $62.23).
The progressive city of Muscat is hosting the 2nd Asian Beach Games in December which will draw crowds to Oman at the beginning of December, resulting in hoteliers bumping up prices to manage the increased demand (up 22.85% to $218.14).
Travelers planning a holiday in laid-back Hobart, Australia will also see a significant increase (as high as 21.85%) this December with average room prices at $153.22.
Colombo, Sri Lanka which is rising in popularity since being named as host city for the 2011 Cricket World Cup, is seeing unusually high prices for hotel stays. Cricketing fans and travelers alike should expect hotel prices to rise every month from now till March 2011, December is already seeing increases of up to 21.38% (to $105.63).
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About HotelsCombined.com Price Index™
The HotelsCombined.com Price Index™ is a monthly survey of hotel prices in major city destinations across the world. The international scale of HotelsCombined.com with 2,500,000 hotel deals in 50,000 destinations across 200 countries makes the HotelsCombined.com Price Index™ the most comprehensive benchmark available, incorporating hotel price data direct from hotels and online travel agent websites.
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