The average cost of a hotel room around the world rose 2% in 2010, according to the Hotel Price Index™ (HPI ™).
The increase was the first time that the average hotel room price rose year-on-year since 2007.
However, prices fell so low during a 13% drop in 2009, that despite last year’s modest increase, the average price of a room is still the same now as it was in 2004.
The average annual price remained flat in the Caribbean, and went up 2% in both Latin America and North America, while Europe showed a 3% increase to round out 2010.
Asia showed a strong 4% increase in 2010, and the rest of the world posted a 13% increase in hotel rates – a sign of a strengthening global economy.