Strength in the pound leads to decreased hotel room rates for UK travellers in first half 2015

  • Global hotel prices paid by travellers worldwide rose by just 1% during first half 2015, according to latest Hotel Price Index from Hotels.com
  • Prices paid overall not back to pre-economic crisis levels, representing great value for travellers, but three regions set new records for spending
  • British travellers paid less on average for hotel room rates in over 75 global destinations included in the report.

LONDON – 2nd September 2015: For the first time, hotel prices paid in three world regions have overtaken their pre-financial crisis levels of 2008/2009, with North America, the Caribbean and Latin America setting new records. However, the overall global rise is up just 1% in the first half of 2015 compared to the same period in 2014 according to the latest Hotel Price Index™ (HPI™) from Hotels.com™. More travellers[1], higher consumer spending in key areas and strong currency fluctuations have all contributed to this result. However, there was great news for British travellers as, with the strength of the Pound, they paid less in over half (75) of the 121 destinations in the report.

The HPI is a regular report on hotel prices in major destinations across the world, tracking the movement in prices that people actually paid* for their accommodation and providing valuable insight into the reasons behind these changes. The data is drawn from bookings made on the hundreds of thousands of hotels on the Hotels.com websites worldwide.

What this meant to British travellers

European prices took a tumble as travellers from the UK paid less on average in 80% of the European destinations in the report across the continent. The country with the biggest decrease in average price was in the Ukraine, with Kiev dropping 48% to £65 per night. This was followed by Moscow in Russia dropping 36% to £92 per night. Even after a decrease of 2% to £218 per night, Monte Carlo still registered the highest paid for room rates for travellers in the first six months of the year.

It was a different story across the pond in the USA, as the US Dollar was one of the few currencies which was stronger against the Pound over the first six months of 2015 compared to 2014. Fifteen of the 16 destinations in the HPI saw growth in average, with Key West the top location for highest average price paid with a 2% increase to £196 per night. Fort Lauderdale saw the highest percentage increase with a 31% surge to £132 per night.

Once again, Asia was the best value for money for British travellers with eight of the 10 cities included in the HPI featured at the bottom of the table. The largest decrease was seen in Phuket, down 29% to £58 per night. The falling value of the Yen contributed to attracting an increase in travellers globally[2], with prices paid from UK visitors ranging from £106 per night in Tokyo and £89 per night in Kyoto.

In terms of weaker currencies, the Australian Dollar allowed for prices to decrease in some of the key cities, including Perth (down 19% to £98 per night) and Sydney (down 5% to £116 per night). The falling Real following the 2014 World Cup saw the average prices paid in Latin America to also drop. Brazil in particular saw hotel average prices paid drop 27% to £122 per night in Rio de Janeiro during the first six months of the year.

Average hotel prices per room per night paid by UK travellers in the first six months of 2015 compared with the same period in 2014 (sorted by H1 2015 price)

Destination H1 2015 H1 2014 % change
Monte Carlo £218 £223 -2%
Key West £196 £192 2%
Boston £182 £153 19%
New York £171 £171 0%
Muscat £170 £197 -14%
San Francisco £165 £153 8%
Riviera Maya £165 £169 -2%
Seattle £161 £133 21%
Miami £160 £146 10%
Cancun £160 £170 -6%
Los Angeles £150 £132 13%
Doha £149 £111 34%
Dubai £146 £149 -2%
Geneva £145 £153 -5%
Cannes £144 £168 -14%
Washington DC £139 £125 11%
Zurich £138 £139 0%
Venice £138 £140 -2%
Dubrovnik £137 £149 -8%
Chicago £136 £119 14%
Fort Lauderdale £132 £101 31%
New Orleans £128 £111 15%
LONDON £127 £127 0%
Singapore £125 £132 -5%
Rio de Janeiro £122 £166 -27%
San Diego £119 £110 8%
Vancouver £118 £107 10%
Langkawi £116 £126 -8%
Sydney £116 £122 -5%
Nice £115 £128 -10%
Marbella £115 £127 -10%
Hong Kong £114 £117 -3%
Paris £114 £127 -10%
Milan £114 £111 3%
Ibiza £113 £121 -6%
Abu Dhabi £113 £96 17%
Frankfurt £109 £109 0%
Copenhagen £108 £111 -3%
Florence £107 £115 -7%
Disneyland Paris £107 £100 7%
Amsterdam £106 £111 -5%
Tokyo £106 £109 -3%
Cape Town £105 £100 6%
Stockholm £104 £118 -12%
Mexico City £103 £103 -1%
Las Vegas £102 £90 13%
Reykjavik £102 £110 -7%
Toronto £101 £98 3%
EDINBURGH £100 £102 -1%
Munich £100 £107 -7%
Oslo £100 £110 -9%
Johannesburg £100 £101 -1%
Barcelona £99 £105 -5%
Sao Paulo £99 £114 -13%
Mallorca £99 £114 -13%
Rome £99 £105 -6%
Perth £98 £120 -19%
Mumbai £98 £85 15%
Grand Canyon £97 £78 25%
Jerusalem £97 £117 -17%
Shanghai £97 £86 12%
Bruges £94 £98 -4%
Orlando £94 £75 25%
Tenerife £94 £95 -2%
Taipei £93 £92 1%
Moscow £92 £143 -36%
Osaka £91 £81 13%
Dublin £91 £87 5%
Antalya £91 £92 -1%
Helsinki £90 £107 -16%
Cairo £90 £91 -1%
Kyoto £89 £102 -12%
Beijing £89 £81 10%
Bali £89 £90 -2%
Brisbane £88 £95 -7%
Seoul £87 £95 -8%
Melbourne £86 £88 -2%
St. Petersburg £85 £120 -29%
Brussels £85 £91 -7%
Vienna £85 £89 -5%
Delhi £84 £79 7%
Wellington £84 £90 -6%
Lisbon £84 £79 6%
Istanbul £83 £98 -15%
Marrakech £83 £100 -17%
Auckland £81 £78 4%
Madrid £80 £81 -1%
Buenos Aires £79 £75 6%
Gran Canaria £79 £82 -4%
Lanzarote £78 £76 3%
Sharm El Sheikh £78 £83 -6%
Koh Samui £77 £74 5%
Berlin £75 £81 -8%
Athens £73 £76 -3%
Albufeira £73 £72 1%
Bogota £71 £85 -17%
Benidorm £70 £66 6%
Tallinn £70 £80 -13%
Goa £69 £67 3%
Kuala Lumpur £68 £74 -8%
Prague £67 £73 -7%
Alicante £66 £64 3%
Kiev £65 £124 -48%
Warsaw £64 £67 -6%
Budapest £63 £67 -6%
Hua Hin £62 £65 -5%
Bucharest £61 £77 -20%
Bratislava £60 £63 -4%
Krabi £60 £63 -4%
Krakow £60 £62 -3%
Torremolinos £59 £66 -10%
Phuket £58 £82 -29%
Riga £56 £63 -12%
Bangkok £55 £51 9%
Vilnius £55 £61 -10%
Ho Chi Minh City £50 £48 3%
Siem Reap £43 £41 6%
Hanoi £39 £36 7%
Phnom Penh £36 £34 5%
Chiang Mai £34 £41 -16%
Pattaya £34 £39 -14%

 

Please visit www.hotel-price-index.com for more information and to view reports in additional currencies.

*Average prices paid per night inclusive of taxes and fees.

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[1]http://media.unwto.org/press-release/2015-07-08/international-tourist-arrivals-4-first-four-months-2015

[2] http://uk.reuters.com/article/2015/06/10/us-markets-asia-currencies-idUKKBN0OQ0IR20150610