The continued recovery of business travel has fuelled a rise in hotel rates according to a survey by Hotels.com.
The online hotel portal said that global hotel prices increased by 4% in 2011 compared to the previous year in its annual Hotel Price Index.
Hotels.com president David Roche said the ?steady increase in business travel? that was first seen in 2010 had continued last year with corporate travel spending up by 9% globally in 2011 compared to the previous year.
The study said that UK travellers saw hotel prices rise in 69 of 88 city and resort destinations during 2011 but Hotels.com said that prices were still ?generally lower than in 2005.?
?The hotel sector is a good barometer for the global economy as a whole,? added Roche. ?Prices are up because demand for rooms is on the rise ? a sign of higher levels of business and consumer spending. ?Local conditions, influenced last year by political uprisings, natural disasters and currency fluctuations, do have a major impact on prices but, overall, ?the momentum is there and the market is growing.??
According to the figures prices fell in Asia by 2% ? partly due to factors such as the drop in value of the Indian rupee ? but were up in all other regions: by 8% in the Pacific, 5% in North America, 4% in Latin America and 2% in Europe and the Middle East.
Some of highest rises in hotel prices were seen in cities in the emerging BRIC nations such as Brazil, China and Russia. Prices in Rio de Janeiro were up 13%, Moscow by 9% and Hong Kong by 18%.
There was a ?mixed picture? across Europe in 2011 with London prices only going up by 1% to ?115 per night while Amsterdam rates rose by 9% and there were 8% rises in both Venice and Barcelona.
?A variety of factors, including currency movements and a growth in corporate travel, pushed up prices at a time when many consumers were already struggling to pay their bills at home,? said Roche.
?However, it must be stressed that room rates were still generally lower than they were in 2005 meaning hotels represented outstanding value.??
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