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Chapter 2: Hotel Prices Around the World
Up, Up, and Away: Hotel Prices on the Rise
Nearly 75% of international cities included in the Hotel Price Index™ (HPI™) for all of 2011 indicate an increase in daily room rates – 17% of those show a rise of 20% or higher.
Florianopolis, Brazil had the best year in 2011, raising its hotel prices by 71%. This southern Brazilian city has been on the radar of the “it-crowd” and party insiders for several years now and has often been compared to other, more high-end destinations like St. Tropez and Ibiza. It seems as through mainstream hoteliers have caught on to the buzz, raising their average price by $93 in just one year. Two additional Brazilian cities (Rio de Janeiro and Sao Paulo) made the list of greatest price increases in 2011, indicating that the hospitality industry of the region is likely preparing for the approaching World Cup Games in 2014.
Jimbaran, Indonesia also made a significant jump from 2010 to 2011. Its 67% price increase could potentially be a sign of a recovery from the city’s devastating Bali Bombings in 2005. Similarly, Addis Ababa, Ethiopia suffered a stretch of down tourism during conflicts with nearby Somali pirates, but is now seemingly recovering, especially with the new opening of a $200-million dollar complex that will serve as the new headquarters of the African Union.
Other countries with cities that have been steadily rising over the past few years include Germany, Australia, Italy and Spain.
The World's Greatest Price Rises