Global Hotel Rates Are Expected to Increase Up to 3 Percent Next Year

rates

ATLANTA—Global hotel rates are expected to increase 1 to 3 percent in 2019 in most markets around the world, according to the 2019 Industry Forecast recently released by business travel management company BCD Travel. The increase in hotel rates is largely due to demand growth slightly outpacing supply in most markets.

The 2019 Industry Forecast provides travel and procurement managers with projected prices in preparation for supplier negotiations and budgeting. The forecast, published in prior years by Advito, the consulting arm of BCD Travel, includes supply, demand, and pricing trends for air, hotel, meetings, and ground transportation for all major regions of the world.

The anticipated hotel rate increase worldwide shows little variation by region. Much wider ranges can be seen on a country level, such as in India, where a 6 percent to 8 percent rate increase is expected. In the United States, hotel occupancy is generally higher year-over-year, especially in major cities, thanks to the continued strength of the U.S. economy. Travelers may even experience availability issues in some locations.

Advertisement