The average price paid for a hotel room around the world rose by 3 percent during 2014, compared with 2013, according to the latest Hotels.com® Hotel Price Index™ (HPI®). For North America the price increased by 5 percent. And the average price paid by U.S. travelers domestically rose 5 percent to $137, with prices rising in all but two of HPI’s Top 50 most popular destinations in the country. Some highlights from the HPI report for 2014:
- New York City was the most expensive among Top 50 domestic destinations with an average price paid of $271–a slight increase of 1 percent. Occupancy levels in the city remained high, but an increase in hotel room supply put pressure on rates, which minimized price increases. (In the Greater New York market area, the average price paid was also up–by 2 percent.)
- At the other end of the spectrum, the average price paid in Reno remained flat at $83–less than one-third of the cost of an average stay in New York. Reno was one of only four Top 50 domestic destinations with an average price paid under $100, in spite of increases.
- Albuquerque on $89, Jacksonville on $95 and Pigeon Forge on $97 rose by 2 percent, 8 percent and 3 percent, respectively.
- There were several significant price increases across the country with the highest being in Nashville, where the average price paid rose 15 percent to $164.
- The average rate in Seattle rose 12 percent to $183,
- Denver experienced an 11 percent average price increase ($136).
- Boston (Manchester) experienced a 5 percent increase to $189.
- Seattle-Tacoma had the biggest increase among top markets (up 9 percent to $149),
- San Francisco-Oakland-San Jose (up 8 percent to $183).
- The average price paid in Miami-Fort Lauderdale increased by 6 percent to $178.
- In U.S. regional market areas, the upward pressure was the same. Only one of the Top 20 market areas (See below) to experience a price decrease was Panama City, Florida, which slipped 1 percent to $151.
Average Hotel Prices Paid by U.S. Travelers in Top 20
Domestic Market Areas (Regions) in 2014 Compared with 2013
|2. New York||New York||$226||$222||2%|
|3. Boston (Manchester)||Mass||$189||$180||5%|
|4. San Francisco-Oakland-San Jose||California||$183||$170||8%|
|5. Miami-Fort Lauderdale||Florida||$178||$169||6%|
|7. New Orleans||Louisiana||$170||$166||3%|
|8. Santa Barbara-Santa Maria-San Luis Obispo||California||$164||$159||3%|
|10. Panama City||Florida||$151||$152||-1%|
|13. Providence-New Bedford||Rhode Island/Mass||$150||$142||6%|
|14. Washington, D.C. (Hagerstown)||DC/Maryland||$144||$141||2%|
|16. Los Angeles||California||$147||$139||5%|
|17. San Diego||California||$145||$138||5%|
|18. Palm Springs||California||$145||$137||5%|
Source: Hotel Price Index (HPI™)
The Worldwide Snapshot: The global HPI stood at 113 at the end of 2014, 13 points higher than at its launch in 2004 and on a par with its 2008 level but still four points lower than its peak at 117 in 2007.
Average Percentage Price Rises in Actual Prices Paid For Hotel Rooms In 2014
|Europe & the Middle East||4%||108|
Source: Hotel Price Index (HPI™)
About the HPI™ The HPI is a biannual report that looks at hotel prices in cities all around the world. The data is based on bookings made through the Hotels.com website and the prices listed are the actual prices paid—not advertised rates. The HPI started in 2004 and was set at 100. It tracks all bookings across all star ratings from 1-star to 5-star.