Global Hotel Room Rates: Where Are The Best Deals?
Photo courtesy of Thinkstock
Global travel management company HRG revealed the results of its biannual Hotel Survey Wednesday. The study, currently in its 23rd year, examines hotel room rates in important business destinations around the globe and the 2016 survey uncovered several key findings.
For the 12th straight year, Moscow was determined to be the most expensive city for business travelers with the average room rate climbing to $366.69 in 2015.
Meanwhile, Sao Paulo, Rio de Janeiro, Mexico City and Sydney also experienced notable rate increases in 2015, with rates ranging from 14.5 percent to 31.2 percent in terms of local currency.
The good news for travelers, though, is that fewer than two dozen cities saw an increase in average rate compared to 37 the previous year. However on the flip side, only 32 cities experienced a decrease in average room rate in 2015, compared to 42 the year before.
Aberdeen (Scotland), Rome, Houston, Dubai and Abu Dhabi experienced the greatest decrease in average room rate in 2015.
In Houston, the average room rate dropped more than $20 to $212.69.
Of the five regions HRG analyzed, only the Americas experienced an overall growth in average room rate in 2015.
"The survey shows that many hotel groups simply didn’t achieve the rates or growth that they had been expecting," said HRG's director of global hotel relations Margaret Bowler in a statement. "This is primarily a result of soft demand, decreases in supply and a number of new products and categories of product, together with clients continuing to look for savings."
"When we look ahead to this year we can expect to enjoy a number of new rooms coming into the market. Brands will continue to diversify, delivering new price points for all travellers. The consolidation of hotel groups may bring both advantages and disadvantages to clients."
Click here to view the complete 2016 HRG Hotel Survey.
For more Hotel & Resort News
More by Patrick Clarke
Get Travel Deals and Travel News
Recent Travel Opinions
Cruise Line & Cruise Ship
Airlines & Airports