Worldwide Hotel Rates Down 14%

Aloha Kakou:

Around the world, hotel rates declined 14% in 2009 from their 2008 levels. The bulk of the decline was seen at the beginning of 2009, however, with rate dropping tapering off toward the end of the year.

"Despite some possible first signs of hotel prices recovering in Europe and the U.S. in the last quarter of 2009, the promotions and great value look set to continue for some time yet," said David Roche, president of Hotels.com.

"We have seen some stabilization but we will still see prices more in favor of the traveler rather than the hotelier," said Nigel Pocklington, global marketing director for Hotels.com in London.

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