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Hotel Room Prices Up, But Some Luxury Room Rates Fall
While hotel room prices in Asia grew by 4 per cent overall in the first half of this year, compared to the same period last year, several popular Asian cities saw significant price falls in luxury hotel room rates, according to leading online accommodation booking website hotels.com.
Shanghai saw the greatest slide in prices for its 5-star hotels, dropping by 13 per cent to S$236 per night on average, while Bangkok"s 5-star hotel room prices fell 11 per cent to an average S$211 per night, according to Hotels.com"s latest Hotel Price Index (HPI) report.
These cities registered on the Top 10 list of popular overseas destinations among Singapore travellers. Other top 10 favourites include Tokyo, Kuala Lumpur and Seoul.
The index, launched in 2004, is based on bookings made on Hotels.com sites around the world and tracks the real prices paid per hotel room for about 149,000 properties in more than 19,800 locations in over 85 countries.
Overall, among the hotel price increases, prices in Sapporo, Japan rose by 24 per cent to reach S$147 per night, while Kyoto was up by an average of 13 per cent to S$192 per night.
However, Osaka registered a drop of 7 per cent to S$149.
Hong Kong was up 13 per cent to S$219, while Singapore rose by just 1 per cent to S$232.
Seoul saw an influx of tourists from Japan and China pushing its rates up 23 per cent to S$200 SGD, and Taipei was up 10 per cent to S$152, the report found.
In China, Shanghai was up 5 per cent to S$138, Guangzhou rose by 2 per cent to S$105, while Hangzhou fell 12 per cent to S$124 and Shenzhen was down 6 per cent to S$98
"Although Singapore travellers faced price increases in more than half of the international holiday destinations included in the HPI, several popular Asian cities saw significant price falls," said Mr Johan Svanstrom, Vice President, Hotels.com Asia Pacific.
"The continued expansion of low-cost carriers in the region has also provided Singaporean travellers with more cheap flight options. Singaporeans are thus extremely well-placed to find a good travel bargain just in time for their year-end getaway," he said.
Beyond Asia, Singaporean travellers also enjoyed lower hotel room prices in 11 of the 15 European destinations in the report.
Shopping havens Milan and Madrid recorded significant drops of 12 per cent and 10 per cent respectively, while hotel rates in popular European destinations such as London dipped 3 per cent.
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