The average price paid for a hotel room around the world rose by 3 percent during 2014, compared with 2013, according to the latest Hotels.com Hotel Price Index (HPI). The overall global economic recovery gathered momentum and consumers became more confident in increasing their travel spending. Hotel prices have now experienced five years of steady price rises since they plummeted during the financial collapse of 2008.
The average price paid by U.S. travelers domestically rose 5 percent to $137, with prices rising in all but two of the top 50 most popular destinations in the country. Internationally, the strength of the dollar led to price decreases in many of the most popular destinations for American travelers in Latin America and APAC, where travelers received more value for their money.
The global HPI stood at 113 at the end of 2014, 13 points higher than at its launch in 2004 and on a par with its 2008 level but still four points lower than its peak at 117 in 2007. Of the six regions in the HPI, the index rose in four, remained steady in one, and fell in another. With a strong economy and rising dollar, North America led the way with a rise of 5 percent, 2 percentage points better than its 2013 result.
