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The relative strength of the global hotel sector can be seen as an indicator of a potential turnaround in the economic outlook with the average price of a room around the world rising 4% in 2011, according to the latest Hotels.com® Hotel Price Index™ (HPI®). The continuing strength in corporate travel, in particular, helped to push up demand and room rates, although prices were still generally lower than in 2005.
The HPI looks at prices that people actually paid for their hotel room around the world. Last year, prices fell 2% in Asia year-on-year but rose in all other areas: 8% in the Pacific, 5% in North America, 4% in Latin America, 3% in the Caribbean and 2% in Europe and the Middle East. The overall increase reflected a continuing trend of steady recovery after a 13% tumble in 2009.
To view Multimedia News Release, go to http://www.multivu.com/mnr/53785-hotels
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Since its creation in 1993, the CBOE Volatility Index® (the VIX® index) has been the most widely-followed barometer of market volatility. By using real-time options prices on the S&P 500® Index to get a true snapshot into how the marketplace views expected volatility, the VIX® index is an incredibly valuable tool for traders.
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For the first time in five years, travellers paid more on average for their hotel rooms during the first six months of 2012 in all parts of the world, according to the latest Hotels.com® Hotel Price Index TM (HPI®). The global 4% rise, compared to the same period the year before, demonstrated that the economic recovery in the hotel industry was well-established.
The Index stood at 108 for this period meaning that, despite the latest increase, hotel prices in general were still considerably lower than in the first half of 2007 when the HPI was at its peak of 119.
To view Multimedia News Release, go to http://www.multivu.com/mnr/56589-global-hotel-prices-rise-in-all-regions
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