As the Canadian Dollar Grows Stronger, Hotels Continue To Lower Prices To
Attract Both Domestic and International Travellers
SAN FRANCISCO, June 28, 2011 /CNW/ -- Hotwire.com®, a leading discount travel site, today announced the results of the June 2011 Hotwire® Canadian Hotel Rate Report, which features the top five cities in Canada where hotel rates have dropped the most. When combined with Hotwire's already discounted prices, the Hotel Rate Report helps guide customers to the destinations that can maximize their travel dollars.
As the strength of the Canadian dollar continues to depress the value of foreign currency, hotels throughout the country are lowering their prices even further in the hopes of attracting international tourists. Meanwhile, some destinations are also experiencing soft domestic demand as well.
The economic boom enjoyed by Alberta in the mid-2000s has softened considerably in recent years. As a result, popular cities in the province have seen a drop-off in local travel demand. Aggressive hotel rates are aiming to attract leisure, shopping and business travellers to help offset the impact. As a result, Calgary tops the list this month with a six percent drop, and Banff also makes an appearance with a two percent drop in prices.
Niagara Falls and Quebec make a welcome return to the list this month with a five and three percent drop, respectively. These price changes are primarily driven by diminished international visitation, which is affected by the unfavorable exchange rates. Finally, Whistler rounds out the top five, maintaining its presence on the list for the fifth consecutive month.
Hotwire is able to find great deals because it works with hotels, airlines and car rental companies to fill unsold inventory. This means customers can find incredibly low deals on Hotwire, especially in cities like those on the Hotel Rate Report where prices are unseasonably low.
When compared to the same time last year, the top five hotel price reductions for June 2011 include:
Example of a Current
Rank Hotel Market Price Drop Hotwire Deal, CAD$/Night
1 Calgary, AB -6% 3.5-star $100
2 Niagara Falls, ON -5% 4-star $110
3 Quebec City, QC -3% 3-star $84
4 Banff, AB -2% 3-star $97
5 Whistler, BC -2% 3.5-star $100
"Top Canadian cities are still discounting their prices even though we're entering what is usually the strongest time of the year for visitors," said Clem Bason, President of the Hotwire Group. "Hotels realize that the Canadian dollar remains strong, and they are taking measures to ensure that travellers see the value of visiting their properties, as well as their cities."
About the Hotwire Hotel Rate Report
The Hotwire Hotel Rate Report will run results during the first week of each month. Results are calculated by looking at Hotwire stay dates for select regions in the current month, and comparing prices in the current month against Hotwire prices in the same month in the prior year. Prices are compared within the same star rating categories for consistency, and the percent change in price for each region is generated as an overall average of the changes in those categories. The prices in the chart above are examples for a particular star rating category within that market, and actual prices may be higher or lower than the example that is provided.
Hotwire.com is a leading discount travel site with low rates on airline tickets, hotel rooms, rental cars, cruises and vacation packages. Launched in 2000, Hotwire negotiates deep discounts from its travel suppliers to help travellers book unsold airline seats, hotel rooms and rental cars. Hotwire is an award-winning website and operating company of Expedia, Inc. CST# 2053390-50. NST: 20003-0209. For more information, visit http://www.hotwire.com/.
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