02/14/2020 | Press release | Distributed by Public on 02/14/2020 09:54
- Hotels.com Hotel Price Index (HPI) reveals global hike in accommodation prices for the first time in three years with prices increasing worldwide by 2% in 2017
- Americans were looking to spend money on experiences, which translated to travelers spending their time abroad in Europe despite higher hotel prices
- U.S. travelers found the best deals in Asia with 13 destinations among Americans' Top 50 international favorites, including the world's most visited city
DALLAS, March 20, 2018 - After three years, prices travelers paid for overnight accommodations rose 2% globally in 2017, according to the latest Hotels.com® Hotel Price Index™ (HPI®). In a year where cryptocurrencies flooded the market, hashtags took over the red carpet and political debate turned well, political, the needle has also moved for travelers, with a two-point rise in the global Index to 116, the closest it has been to the 2007 peak of 118.
Hotels.com® Hotel Price Index™ (HPI®) Snapshot (Hotels.com)
'The slight increase in average accommodation prices globally, combined with numerous markets having record visitor growth, has signaled a strong travel economy and a growing desire from consumers to experience the world,' said Johan Svanstrom, president of Hotels.com. 'Cultural events have inspired travel more than ever before as we aspire not to just stand by and observe the action, but to instead actually be a part of it.'
In the U.S., more citizens have a passport than ever before, and as a result they are looking to get out and experience the world, despite an increase in prices paid* for hotel stays.
A few of the study's key findings:
Sunshine Southof the Border - Mexico
There is no doubt that travelers are looking to relax and enjoy the sunshine while on vacation. Cancun, Playa Del Carmen and Mexico Citywere the top destinations in Mexicofor U.S. travelers. Among the cities analyzed, Americans traveling to Mexicopaid the most for rooms in Playa Del Carmen- which had an average price of $247per night - an increase of 2% from 2016.
Americans Flocked Across the Pond
With more than 40% of Americans having passports in 2017, Europetopped the charts for the most desirable outbound region and Londonwas first on the list of international destinations. Despite the high prices, the capital's long-standing appeal as a bucket-list city got some help from the pound - which has brought average accommodation prices down by 2% since 2016.
Travelers had fiestas in Spain, which became the 2nd most visited country in the world, and 6th for U.S. travelers in 2017 with an average of $163per night. Americans looking to explore without breaking the bank found the best value in Istanbul, paying on average of $92per night.
Stretching the Budget in Asia
U.S. travelers found themselves paying more for their overnight accommodations in 70% of their Top 50 international destinations, but not in Asia. The HPI reported that Chiang Mai(ranked 49th), Ho Chi Minh City(ranked 34th) and Bangkok(ranked 5th) had the lowest international average prices paid per night - all averaging below $100per night. Thailandwas the most popular country in the region for U.S. travelers, and welcomed 35 million visitors from around the world in 2017.
In addition to the great value destinations and hidden gems found in the HPI, travelers that haven't yet padded their wallets with cryptocurrency can take advantage of programs like Hotels.com™ Rewards, which lets you earn free** nights while you sleep and gain access to instant savings like Secret Prices***. Secret Prices are lower rates that aren't available to everyone and offer up to 50% off thousands of properties in popular destinations every day. With Hotels.com Rewards, you earn a free night for every 10 booked. It's that simple.
About the HPI
The HPI was set at 100 in its inaugural year, 2004. The index format allows Hotels.com to highlight year-over-year variations in actual prices paid per night by travelers without foreign exchange fluctuations distorting the picture. Please visit hpi.hotels.com for more information and to view reports in additional currencies.
For further information, imagery or interview requests, please contact Alex Leeat [email protected].
Hotels.com is the place to go if you're look for a place to stay. We really love travel and we know you do too. That's why we make it really easy to book with us. With hundreds of thousands of places to stay around the world and 90 local websites in 41 languages, Hotels.com has it all. So, whether you're looking for value in Vegas, treehouses in Thailandor villas in Venezuela, it's all just a click away. And with our 'Reward-winning' loyalty program you earn free** nights while you sleep and get access to instant savings like Secret Prices…what could be better? Booking just got smarter too. With over 25 million real guest reviews and an app so easy to use that it's been downloaded more than 60 million times, you can be sure to find the perfect place for you.
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*Average prices paid per night including taxes and fees.
**Free night does not include taxes and fees. See full terms and conditions.
***Secret Prices are available to Hotels.com app users, Hotels.com Rewards members and individuals who unlock Secret Prices on the website by subscribing to Hotels.com by email. Secret Prices will be shown where the 'Your Secret Price' banner is displayed on your search results. Available on selected hotels and selected dates only. Subject to full terms and conditions.
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