Hotel Prices in Vancouver Up 4% in the Second Quarter of the Year According
to the Hotel Price Index from Hotels.ca
</pre> <p><span class="xn-location">TORONTO</span>, <span class="xn-chron">Oct. 5</span> /CNW/ -- As a sign of recovery in the hospitality market, hotels in <span class="xn-location">Vancouver</span> were tied for third with the highest rate increases for Canadian travellers globally in major cities compared to the same period last year, according to the Hotel Price Index(TM)(HPI(TM)), released by Hotels.ca®. <span class="xn-location">Vancouver</span> also ranked as the top Canadian destination for international travellers.</p> <p/> <p>The HPI revealed that <span class="xn-location">Vancouver</span> hotel prices were up 4% in the second quarter of 2010 with an average room rate of <span class="xn-money">$147</span>. Only <span class="xn-location">Singapore</span> and <span class="xn-location">Montreal</span> had a larger major city year-over-year increase at 10% (<span class="xn-money">$180</span>) and 7% (<span class="xn-money">$141</span>). Other large cities increasing by 4% were <span class="xn-location">Toronto</span>, <span class="xn-location">Stockholm</span>, <span class="xn-location">Munich</span>, and <span class="xn-location">Beijing</span>.</p> <p/> <p>"It is a good economic indicator that prices were up in <span class="xn-location">Vancouver</span>," said <span class="xn-person">Jennifer Drew</span>, Director of Market Management - <span class="xn-location">Canada</span>, Hotels.ca. "The city benefitted from an overall stronger Canadian economy, healthy convention business and the attention brought to it by the 2010 Winter Olympic Games."</p> <p/> <p>Hotels.ca is part of the Hotels.com® worldwide group and conducts a regular analysis of prices actually paid by consumers for hotels in major destinations around the world.</p> <p/> <p>Despite the increase in rates, <span class="xn-location">Vancouver</span> still offered good value when compared to other major cities globally, ranking 23rd with an average rate of <span class="xn-money">$147</span>. New York had the highest average room rate at <span class="xn-money">$236</span>, followed by <span class="xn-location">Zurich</span> (<span class="xn-money">$209</span>) and Washington (<span class="xn-money">$202</span>).</p> <p/> <p>For domestic travel, Canadians paid the most to stay in Mont Tremblant (<span class="xn-money">$196</span>), followed by Lake Louise (<span class="xn-money">$195</span>), Whistler (<span class="xn-money">$174</span>) and Jasper (<span class="xn-money">$157</span>). <span class="xn-location">Vancouver</span> ranked as the 6th most expensive city for Canadians travelling within their own country at <span class="xn-money">$145</span>. Kelowna was right behind <span class="xn-location">Vancouver</span> ranking seventh at <span class="xn-money">$145</span> (a decrease of 9%). Victoria ranked at 16th with an average room rate of <span class="xn-money">$125</span> (a decrease of 2%) and Kamloops ranked 17th (tied with <span class="xn-location">Edmonton</span>) with an average room rate of <span class="xn-money">$123</span> (an increase of 4%).</p> <p/> <p><span class="xn-location">Vancouver</span> ranked as the top Canadian destination for international travellers booking with Hotels.ca. Victoria was ranked 10th, Kelowna at 13th and Whistler at 16th. <span class="xn-location">Vancouver</span> was the third top destination for domestic travellers behind <span class="xn-location">Toronto</span> and <span class="xn-location">Montreal</span>. Victoria placed in the sixth spot and Whistler in 10th.</p> <p/> <p>Overall, the HPI showed the strong Canadian dollar benefited Canadian travellers in the first half of the year as consumers were able to save on hotel accommodations internationally.</p> <p/> <p>While the average price of a hotel room around the world rose 2% in the second quarter of 2010 compared to the same period last year, the HPI found that Canadian travellers actually reduced their average hotel room spend in every major country destination. This is particularly true across <span class="xn-location">Europe</span>, where the strength of the Canadian dollar has risen against the Euro. Examples cited in the HPI include prices paid down by almost a quarter (24%) in <span class="xn-location">Budapest</span> from a year earlier, in Dublin by over a fifth (21%) and in <span class="xn-location">Prague</span>, <span class="xn-location">Athens</span>, <span class="xn-location">Amsterdam</span>, <span class="xn-location">Copenhagen</span> and <span class="xn-location">Lisbon</span> by more than a tenth (between 14% and 18%).</p> <p/> <p>The Hotels.ca HPI tracks the real prices paid per hotel room rather than advertised rates. It is based on prices actually paid by customers for 91,500 properties in more than 15,750 locations around the world. The HPI report issued this month examines hotel prices for the first half of 2010, compared to the same period last year. The actual prices paid per room by Hotels.ca and Hotels.com customers around the world are tracked in the HPI, using a weighted average based on the number of rooms sold in each of the markets in which the company operates. All pricing is in Canadian dollars.</p> <pre> Click here http://www.hotel-price-index.com, for a look at the entire report. About Hotels.ca </pre> <p>Hotels.ca, part of the hotels.com worldwide group of sites, is a leading provider of worldwide accommodations to Canadians, offering reservation services through its website at <a href="http://www.hotels.ca">www.hotels.ca</a> and its toll-free call centre at 1-800-CA-HOTELS (1-800-224-6835). Hotels.ca offers travellers the widest selection of accommodations - from traditional hotels to vacation rentals - at over 99,000 properties in <span class="xn-location">Canada</span>, the <span class="xn-location">United States</span>, <span class="xn-location">Europe</span>, and around the world. The company offers a one-stop shopping source for hotels, with over 1.8 million customer reviews, a Price Match Guarantee and pricing in Canadian dollars. Hotels.ca is a brand owned and operated by Expedia, Inc. (Nasdaq: EXPE).</p> <p/> <p>Hotels.ca, Hotels.com, HPI, Hotel Price Index and the Hotels.ca logo are either registered trademarks or trademarks of Hotels.com, LP, in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners. © 2010 Hotels.com, LP. All rights reserved.</p> <p/> <p> </p> <p> </p> <pre> For further information or to request an interview with Hotels.ca, please contact: Trell Huether Marshall Fenn Communications 416.962.3366 ext. 233 [email protected]
For further information: For further information: Trell Huether, Marshall Fenn Communications, +1-416-962-3366 ext. 233, [email protected] Web Site: http://www.hotels.ca
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