25/03/09 Acrobat (pdf, 36 KB)
According to the Hotel Price Index in Hotels.com,
THE HOTEL SECTOR ADOPTS MEASURES TO COMBAT THE CRISIS
A decrease in rates of 12% in the last quarter of 2008 places the average price of rooms at 91 euros
Prices in Europe fall by 10% on averageEuropean countries reduce their hotel rates in a generalized way in the last quarter of 2008 compared to the same period of 2007Sew is the only country that raises prices, to place them at 144 euros on average after increasing them by 7% United Kingdom again reflects the sharpest fall in prices in Europe, with a decrease of 24%, placing the average price at 116 eurosNorway, Ireland and the Czech Republic complete the Top5 of greatest declines, registering decreases of 18%, 17% and 14%, respectivelyIbiza and Zaragoza star in the most notorious declines in Spain to suffer a fall of 34%, reducing prices to 28 and 69 euros, respectivelyOnly 4 Spanish cities raise their hotel pricesAlicante stars in the largest Spanish rise with an increase of 13%, placing the average price at 93 euros In Madrid and Barcelona prices fall by 14% compared to 2007San Sebastian is consolidated as the most expensive Spanish city thanks to an increase of 11% compared to the previous yearSpanish hotel prices suffer the fifth sharpest fall in Europe, with the average per room standing at 91 euros, after falling by 12% in the last quarter of 2008 compared to the same period of the previous year. This is revealed by the data extracted from the latest Hotel Price Index (HPI) of Hotels.com, published this morning. This data extends to all of Spain if we look at its main cities, as all suffer cuts except for Alicante, San Sebastian, Marbella and Palma de Mallorca. At the European level the picture is similar, cuts are recorded in all countries except Switzerland, which raises its rates by 7%, reaching up to 144 euros.
In this way, the main conclusion that emerges from this edition of the HPI is a fall in hotel prices nationally and internationally, thus repeating the trend of the previous report. This decline, even more pronounced than in the previous edition, is a clear example of the effects of the economic crisis, which has forced hoteliers to reduce prices as a strategy to maintain the occupancy rate. The HPI is a periodic report that highlights price variations and how these changes affect the tourism sector as a whole. The Index shows the actual values paid by consumers for a hotel room and is based on a sample of 68,000 hotels, located in 12,500 cities around the world. The main focuses of this March 2009 edition are the variation of prices in the reflected period, the most expensive and the cheapest destinations, as well as the different expenditure of tourists between domestic and international trips. In addition, on this occasion special emphasis is placed on how the crisis affects the hotel sector in Spain and worldwide.
European fares fall by 10% The European continent sees its hotel prices fall both globally and regionally (with an average decline of 10%), as well as in the country-by-country count. All nations in Europe cut tariffs except for Switzerland. The hotels of the Alpine country registered an increase of 7%, standing at 144 euros per room per night.
Although all other countries revise their prices downwards, the least affected are France and Belgium, with cuts of 3%, and Austria and Denmark, where they fall by 6%.
On the opposite side of the scale, the United Kingdom suffers the largest price decline of the entire continent, falling by a spectacular 24%. This fall was compounded by the weakness of the pound sterling. Second on the list of biggest cuts is Norway, with 18%, followed by Ireland (-17%), Czech Republic (-17%) and Spain, which falls to fifth place, with a 12% decline in its prices.
As far as the most expensive destinations are concerned, Switzerland is once again at the top of the European list, with an average of 144 euros. Just behind is Denmark, with 126 euros of average price, followed by Norway, with an average of 121 euros. Next is the United Kingdom that, despite suffering the biggest cut, is the fourth most expensive country, with an average rate of 116 euros. Austria completes the Top5 of the European countries with the highest prices, standing at 111 euros.
Spain revises prices downwards
Spain sees the price of its hotel rooms reduced by up to 12%, standing at an average rate of 91 euros. It is surprising that the most affected cities are Ibiza and Zaragoza, destinations that have traditionally been characterized by their relatively high prices. Both localities registered a decrease of 34% in the last three months of the year, compared to the same period of 2007.La decreasing trend is constant throughout the Spanish territory. The only cities that have increased their prices are Alicante (+13%), San Sebastian( (+11%), Marbella (+8%) and Palma de Mallorca (+7%). It is remarkable that all these cities are coastal, taking into account that most of the beach destinations register falls, in some cases as notorious as those of Ibiza (-34%) and Lloret de Mar (-21%).
Another trend observed is the fall in fares in large cities, probably as a result of the decline in congress and incentive tourism. Something logical in an economic scenario like the current one. Madrid and Barcelona have a fall in their prices of 14%, which places their average rates at 100 and 109 euros, respectively. Despite this decline, they continue to remain among the five most expensive cities nationwide. On the other hand, Bilbao and Seville lower their prices by 16% and Valencia does the same by 12%.
San Sebastian is once again the most expensive town
The most expensive Spanish city is San Sebastian, with an average price of 161 euros in the price of its hotels. It is consolidated in this position after registering the second largest increase at the national level, of a remarkable 11%. Next in the price list are Barcelona (109 euros), Marbella (106 euros), Madrid (100 euros) and Palma de Mallorca (99 euros).
The cheapest city in Spain is Ibiza, a logical consequence of having suffered the sharpest price cut in the whole country. Its average price stands at 28 euros after having fallen a surprising 34%. Lloret de Mar (50 euros), Benalmádena (55 euros); Sant Joan Despi, in Barcelona (55 euros); and Puerto de la Cruz, in Tenerife (58 euros); complete the Top 5 cities with lower rates.
-End-
About HPI
The Hotel Price Index (HPI) of Hotels.com is a periodic report that collects the prices of the hotels of the main cities of the world. It is made based on own data of reservations through Hotels.com.
The HPI tracks the actual prices paid per room in a wide selection of hotels, using a weighted average based on the number of rooms booked in each of the markets in which Hotels operates.com.Approximately 68,000 hotels in more than 12,500 locations make up the sample of hotels from which the prices that make up the HPI are obtained. The figures indicated in the index are the actual ones paid by customers (not promotional rates), accurately reflecting hotel prices.The international reach of Hotels.com (in terms of customers and destinations) makes this index one of the most complete references currently available in the tourism sector, thanks to the fact that it incorporates a wide range of hotels, both belonging to chains and independent, as well as specialized accommodation options such as apartments and "Bed & Breakfast" establishments.
In Europe, approximately 25% of hotel rooms belong to chains and the rest are independent. The opposite happens in the case of the United States, where approximately 70% of the rooms reserved belong to chains.
In addition to the figures themselves, the HPI includes information about new or unusual trends in bookings and prices.
About Hotels.com
Operating in major markets with a dedicated team, Hotels.com offers more than 80,000 quality hotels worldwide. Hotels.com has one of the largest expert hotel teams in the sector, it also includes user reviews that offer a first-hand analysis of the characteristics of the hotels. Customers can make their reservations directly online or by calling one of the multilingual Customer Service Centers by calling 902 02 61 13
Download the printable version (pdf, 36 KB)
All press releases
Authors: Hotels.com - Press Releases
