|By PR Newswire||
|March 4, 2014 12:00 AM EST||
DALLAS, March 4, 2014 /PRNewswire/ --
Hotel prices increased by 3 percent in 2013, with one region ahead of its pre-economic crisis rates for the first time, according to the latest Hotels.com Hotel Price Index
The average price of a hotel room around the world rose 3 percent during 2013, according to the latest Hotels.com® Hotel Price IndexTM(HPI™). This means there have now been four years of steady rises in hotel prices since the substantial falls during the financial collapse of 2008-2009.
Set at 100 in 2004, the HPI tracks real prices that hotel guests actually paid for their accommodation around the world. The 2013 HPI stands at 110, seven points lower than its peak in 2007 despite the recent growth, and just ten points higher than at its launch.
Latin America registered its strongest result yet, with a 5 percent increase in hotel prices, and has now overtaken its previous peak set just before the global economic downturn. With reports stating that emerging markets are showing solid economic growth, prices rose as demand intensified.
Johan Svanström, President of the Hotels.com brand, said: "According to UNWTO (the United Nations World Tourism Organization), international tourist arrivals in 2013 grew by 5 percent to a record global figure of 1,087 million, well above expectations. The growth in global hotel prices we are reporting today reflects that trend."
"There is no doubt that European hotel prices were some of the most badly affected by the economic fallout. However, most indicators now show that the economic squeeze is easing, if not yet completely over," Svanström continued. "Looking ahead, one phenomenon impacting global hotel prices in 2014 is the huge rise in the number of sports fans traveling this year, with the Sochi Games in February and March and the World Cup in Brazil in the summer."
Higher occupancy levels recorded in many areas helped the North American HPI climb 3 percent, matching the global rise.
Hotel rates in Europe and the Middle East grew by 2 percent. With many financial indicators showing that the European economic recovery is gathering greater momentum, several of the destinations worst hit by the downturn have seen their prices stabilize, with some experiencing healthy increases.
The Pacific region was level. Softer domestic corporate travel in Western Australia, coupled with the drop in value of the Australian dollar towards the end of the year, had a dampening effect on the overall average.
Conversely, average hotel prices in Asia fell by 2 percent, which was good news for inbound travelers to the region as it continues to offer some of the world's best value hotel accommodation. The depreciation of the Yen, Rupee and Rupiah, coupled with a decrease in inbound visitors to China contributed to this result, although outbound travel from China remains buoyant. There continues to be a longer term trend of increased travel within the region.
About Hotels.com (http://www.hotels.com)
Hotels.com is a leading online accommodation booking website with more than 260,000 properties around the world through the Expedia group network, ranging from international chains and all-inclusive resorts to local favorites and bed & breakfasts, together with all the information needed to book the perfect stay. Hotels.com benefits from one of the largest hotel contracting teams in the industry, negotiating the best rates for its customers, and offers frequent sales, special deals and promotions.
© 2014 Hotels.com, LP. Hotels.com, Hotel Price Index, HPI, The Obvious Choice, Captain Obvious, Welcome Rewards and the Hotels.com logo are either registered trademarks or trademarks of Hotels.com, LP in the U.S. and/or other countries. All other trademarks are property of their respective owners. CST # 2083949-50
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
Dec. 26, 2014 04:00 PM EST Reads: 1,843
There's Big Data, then there's really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at Big Data Expo®, Hannah Smalltree, Director at Treasure Data, discussed how IoT, Big D...
Dec. 26, 2014 04:00 PM EST Reads: 2,224
Dec. 26, 2014 03:00 PM EST Reads: 2,535
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
Dec. 26, 2014 01:00 PM EST Reads: 2,628
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
Dec. 26, 2014 01:00 PM EST Reads: 2,058
WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, discussed how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
Dec. 26, 2014 12:30 PM EST Reads: 1,885
Dec. 26, 2014 12:00 PM EST Reads: 1,717
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
Dec. 26, 2014 11:15 AM EST Reads: 2,344
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series dat...
Dec. 26, 2014 11:00 AM EST Reads: 2,177
"SAP had made a big transition into the cloud as we believe it has significant value for our customers, drives innovation and is easy to consume. When you look at the SAP portfolio, SAP HANA is the underlying platform and it powers all of our platforms and all of our analytics," explained Thorsten Leiduck, VP ISVs & Digital Commerce at SAP, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 26, 2014 11:00 AM EST Reads: 1,815
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, discussed how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP HANA...
Dec. 26, 2014 11:00 AM EST Reads: 2,025
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective ...
Dec. 26, 2014 11:00 AM EST Reads: 1,938
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
Dec. 26, 2014 11:00 AM EST Reads: 2,094
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
Dec. 26, 2014 10:00 AM EST Reads: 1,788
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Dec. 26, 2014 10:00 AM EST Reads: 7,136