Hotels.com Hotel Price Index Finds Hotel Prices in Caribbean and Latin America Remain Steady

Summer 2010 Hotel Price Index (HPI) Reveals Travel Trends for South of the Border and Caribbean Destinations

Oct 06, 2010, 12:23 ET from Hotels.com

DALLAS, Oct. 6 /PRNewswire/ -- Caribbean and Latin American hotels remained steady for the first half of 2010 as Hotels.com®, the largest provider of lodging worldwide, released their biannual Hotel Price Index™ (HPI™). This year's HPI unveiled a global 2% increase in average hotel room rates for the first time since the end of 2007. Despite this worldwide increase, hotel room rates in the Caribbean and Latin America rose less than 1% versus the previous HPI report.

(Photo:  http://photos.prnewswire.com/prnh/20101006/NY77640 )

(Photo:  http://www.newscom.com/cgi-bin/prnh/20101006/NY77640 )

Cancun experienced one of the greatest average hotel price reductions in 2010, dropping to an average rate of $171 per night – a -6% change from its $182 average nightly room rate six months prior. Cancun proved to be among the declining minority, as prices in such popular Latin American and Caribbean destinations as Rio de Janiero (+12%), Nassau (+14%), Sao Paulo (+7%) and Buenos Aires (+5%) all posted an increase in respective hotel rates over the same six-month period.

"Hotel rates in Latin America and the Caribbean remain steady and strong," said Miguel Oliveira, director of Global Merchandising Strategy for Hotels.com. "Since the U.S. traveler spends on average $161 per room when staying abroad, the Caribbean and Latin America markets continue to offer phenomenal savings. There are amazing deals to be had for hotel rooms in such places as Monterrey, Mexico; Buenos Aires, Argentina and Negril, Jamaica."

Top Caribbean and Latin America Destinations

The Caribbean continues to be a top destination for U.S. travelers. Its close proximity to the U.S., diverse, vibrant cultures and seductive beaches carry on a long-standing tradition as a "must visit" on travelers' lists when planning a getaway. Latin America also continues to be a popular destination among U.S. travelers due to the fact that the U.S. dollar can last a lot longer in most of Latin America's 20 countries.

Since 2009 there has been an increase in the number of Caribbean and Latin American properties, which has greatly impacted rates and increased room availability, making it easier and more affordable than ever for travelers to visit. New Yorkers booked the most rooms in the Caribbean and Latin America, while hotel guests originating in Los Angeles, San Francisco, Chicago and Houston rounded out the top five respectively.

Most Expensive Caribbean and Latin America Destinations

The HPI revealed that the most expensive destinations across the region included locations in Bermuda, the Bahamas, Saint Lucia and the U.S. Virgin Islands. These areas each contain higher-end hotels and resorts, attracting luxury travelers. As these travelers are willing to pay for lavish vacation experiences, the properties are able to maintain high prices. Additionally, average prices for hotels in resort markets in Mexico and Costa Rica are skewed by the growing prevalence of all-inclusive properties. Rates for these properties include accommodation, as well as meals, gratuities and taxes.

The Most Expensive Caribbean and Latin American destinations:

City

Average price per room per night Q2 2010

Average price per room per night Q2 2009

% Change year-over-year

Hamilton, Bermuda

$447

$361

24%

Paradise Island, Bahamas

$392

$353

-11%

Paget, Bermuda

$326

$336

-3%

St. John, U.S. Virgin Islands

$333

$390

-14%

Soufriere, St. Lucia

$332

$451

-26%

Providenciales, Turks and Caicos Islands

$318

$322

-2%

Oyster Pond, Netherlands Antilles

$255

$285

-10%

Rose Hall, Jamaica

$298

$247

+21%

Palm Beach, Aruba

$275

$276

1%

Bailey's Bay, Bermuda

$261

$245

7%



Star Ratings

When traveling in the Caribbean and Latin America, a property's star rating can mark a dramatically higher or lower average hotel rate. For example, in Buenos Aires the average rate for a 5-star hotel was $395; a dramatically higher rate than that of the 4-star average rate of $136. Cancun, which ranked as a top 10 overseas destination for U.S. travelers, is typically known as a place to visit for its wild spring break and its alluring azure blue beaches. Cancun averaged $145 for 3-star hotels, while 4-star properties averaged $200 per night.


Hotels.com Caribbean and Latin America Deals
Not sure which exotic locale in Latin America and the Caribbean to visit? Search the Deals page on hotels.com for phenomenal savings. The hotels.com Cancun specials offer travelers huge savings, and those valuable savings mean more money for margaritas and tacos South of the Border. The 4-star Fiesta American Condesa Cancun Hotel currently has early booking bonus where guests can save up to 35% off hotel stays booked before October 15, 2010. The savings head to the Caribbean with Hotels.com Nassau specials. Savings include up to 25% off and free nights. Nassau's Best Western Bay View Suites gives guests 25% off room rates and one free night valid for travel now through November 2, 2010

Click http://www.hotel-price-index.com for a look at the entire report, featuring infographics and a detailed state-by-state and city-by-city breakdown.

About the HPI

The Hotels.com® Hotel Price Index™ (HPI™) is a regular survey of hotel prices in major city destinations across the world. The HPI is based on bookings made on hotels.com and prices shown are those actually paid by customers (rather than advertised rates) in the first half (and particularly Q2) of 2010.

Now in its seventh year, the HPI is respected as the definitive report on hotel prices paid around the world and increasingly used as a reference tool by media, analysts, tourism bodies and academics.

For further information, please contact:

Dan Guarino – Ruder Finn for Hotels.com

Phone: (212) 715-1535

Email: guarinod@ruderfinn.com


Taylor L. Cole, APR

Hotels.com North America

Phone : (469) 335-8442

Email: taycole@hotels.com



About Hotels.com

Hotels.com® is a leading provider of lodging worldwide, offering more than 85,000 properties in over 60 countries from national chain hotels and all-inclusive resorts to local favorites and bed & breakfasts. Hotels.com is the smarter way to book travel by offering  welcomerewards®, an industry leading loyalty rewards program; the real opinions of other travelers captured in over 1.5 million Guest Reviews and;  a Price Match Guarantee, so that those booking with Hotels.com can be assured they are getting the best deal, either online or by speaking directly to a travel expert at 1-800-2-HOTELS 24 hours a day. For more information, please visit hotels.com. Hotels.com is an operating company of Expedia, Inc. (NASDAQ: EXPE). Please visit the Hotels.com Travel Smart Blog for consumer and business travel information. Follow us on Twitter via www.twitter.com/hotelsdotcom, on Facebook at www.facebook.com/hotelsdotcom and take a VirtualVacation at www.virtualvacay.com. Detailed Hotel Price Index data is available at: http://www.hotel-price-index.com, Hotels.com, A Smarter Way to Book™.

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