Hotel room prices in the Asia Pacific have jumped by 15 percent in the third quarter from the first quarter of 2004, the highest worldwide on higher demand for accommodation, said Johan Svanstrom, Asia Pacific vice president and managing director of Hotels.com.
“The prices paid in Asia Pacific, and their pace of recovery, shows clear variations across the region. Large business and convention hubs, like Singapore, Hong Kong and Sydney, have seen rates go up on the back of returning corporate and also leisure travel demand,” said Mr. Svanstrom.
Comparing China with Thailand and Japan, Mr. Svanstrom noted that China had seen healthy price gains and occupancies mainly strengthened by the Shanghai expo, while Bangkok and Tokyo did not see the same level of recovery and frequently offered bargains to travellers.
The hotel price growth rate was tracked by the Hotel Price Index (HPI) of Hotels.com, which was initially introduced in Q1 2004.
The index had slipped to 99 points in Q3 from 100 points in Q1 2004, indicating lower hotel room prices in September 2010 despite stabilising prices.