The hotels.com Hotel Price Index (HPI) indicates that hotel prices in Latin America and Asia rose in 2011 from 2010. Asian hotel prices rose 1 percent while hotels in Latin America increased rates 2 percent.
The data contained in the HPI indicates that hotel prices in Latin America have increased for five quarters in a row, which provides evidence of the economic growth occurring in the region. Hotel prices in Sao Paulo and Rio de Janeiro rose 20 percent during the period, and prices in Brazil rose 19 percent. Brazil is now the third most expensive country in the world to book a hotel room.
Hotel prices rose moderately in Asia during the period, with several cities in the region being identified as top cities worldwide visited by Americans. Hong Kong ranked in the top ten, and Singapore, Shanghai, Dubai and Beijing ranked in the top 25. Singapore’s hotel prices rose 18 percent during the period.
The HPI is derived from prices paid by hotels.com customers worldwide, using an average of the number of rooms sold in each region where the hotel company does business. The data is gathered from 140,000 properties in 18,000 locations.