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Global hotels, rates on the rise
Thursday, 05 Sep, 2011
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Hotels around the world have a growth rate of 4 percent in the first half of 2011, according to a new study by Hogg Robinson Group (HRG).
The international corporate services company says of the 50 cities they surveyed, 33 reported a year-on-year increase iotel rates. Growth was particularly strong in Asia.
“We can expect hotel rates to continue to rise as more economies grow and business demand picks up,” said Stewart Harvey, Group Commercial Director for HRG.
Trends noted by HRG:
·Growth in Los Angeles, Montreal and Toronto was flat but North America overall had a 4 percent rate increase.
·Over two-thirds of the cities surveyed reported hotel rate growth, compared with only one-quarter last year, “supporting signs of global recovery and pick up in business travel in recent months,” said HRG.
·Moscow retained its top position with the most expensive hotel rates, “demonstrating the city’s position as a strong business destination,” said HRG.
·Istanbul had the highest increase in hotel rates at 37 percent “due to the growing interest surrounding the city as a business destination.”
By David Wilkening
David
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