ASIA-PACIFIC is leading the resurgence of hotel room rates, according to corporate travel services company Hogg Robinson Group’s (HRG) 2010 Global Hotel Market Survey.
Margaret Bowler, director of global hotel relations at HRG, said: “Of the 75 cities we surveyed worldwide, more than half recorded room rate increases. Particular countries and regions are emerging quicker than others from the recession, but there are definite signs of increasing room rates, which go hand-in-hand with increasing business travel.”
Douglas McWilliams, chief executive of the Centre for Economics and Business Research, said: “The upswing has bolstered hotel prices, particularly in the fast growing emerging markets in the south and east, as economic power moves away from the West.”
According to HRG, Singapore’s average room rate last year increased by 14 per cent over 2009 to £150.55 (US$245). Room rates also ballooned in Hong Kong (12 per cent increase to £191.24) and Seoul (15 per cent increase to £142).
HRG’s full-year survey is based on a combination of industry intelligence, actual room nights booked and rates paid by its UK clients from last January to December compared to the same period in 2009.