2008 News Archive - Hotels & Villas - Hotels 'get cheaper worldwide'
09 12 2008
New data released today reveals that the average price of hotels rooms has fallen around the world during 2008.
According to the Hotel Price Index, published by Hotels.com, the average price of hotel rooms has fallen by three per cent worldwide since 2007, making this year the first time prices have fallen since the index began.
Hotel prices in North America fell most dramatically, by five per cent, while the cost of hotel rooms in the Caribbean fell by an average of four per cent.
David Roche, the president of hotels.com, said: "Hotels in the Americas in particular have been feeling the effects of the wider global downturn for the past six to nine months and we have seen extensive price-cutting already."
The credit crunch may also have a beneficial effect on exchange rates for tourists visiting some countries.
Recently, it has been reported that the pound has risen against the Turkish lira, meaning day to day living costs could be cheaper for people on Turkish holidays.
© Adfero Ltd