The prices of hotels in North America have increased by 5% over 2011
September 19, 2012- According to new data released, the prices of hotels in North America have increased by 5% over 2011, the second highest jump in the world. Prices of hotels have increased globally for the first time in five years. Travelers however, should not be alarmed, as the prices are still 10% less than they were at their peak during 2007 and even cheaper than 2006.
The prices were taken from the first six months of 2012 and showed a trend upward in all regions of the world, which resulted in an overall increased globally of 4%. In the U.S., the west coast is where the most consistent and highest price increases took place. A number of popular tourist cities in the area increased prices by 5% to 13%. In San Francisco, the average room rate jumped by $20 from 2011’s $135 to 2012’s $153.
The average price across the board for hotel rooms in the U.S. for the first six months of 2012 was $125 per night, which is 5% higher than in 2011. Not only has the price increased, but also the number of bookings has increased, which shows that economic spending in the U.S. is on the rise.
For Americans travelling overseas, there are a number of favorite travel destinations in Southern European like Athens, Greece and Pisa Italy that have actually lowered their prices on hotel rooms, due to drops in the value of local currency.