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.
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Today, hotels.com®, the leading provider of lodging worldwide, released its biannual Hotel Price Index™ (HPI®), revealing a 3 percent global price increase and a gradual recovery despite major natural catastrophes and world events affecting travel during the first half of the year. Room rates are still lower than their peak in mid-2007, indicating to travelers that good deals and value are within reach for consumers.
To view Multimedia News Release, go to http://www.multivu.com/mnr/52047-hotels-com-price-index-three-percent-global-increase-gradual-recovery
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Palace Resorts – the company that sets the standard in five-star, all-inclusive resort accommodations – announces an unprecedented travel industry partnership with the launch of the exclusive Colin Cowie Wedding Collection. Available at all Palace Resorts Mexico properties and the all-inclusive Hard Rock Hotels in Punta Cana, Vallarta, Cancun and Riviera Maya, Colin Cowie is bringing his unparalleled style and innovation to destination wedding design. Previously available only to society and celebrity clients, this partnership signals the first time all couples will have the chance to wed or renew their vows in a celebration designed by Colin Cowie, one of the world’s foremost authorities in wedding planning.
To view Multimedia News Release, go to http://www.multivu.com/mnr/53338-palace-resorts-hard-rock-hotel-properties-wedding-collection-colin-cowie
