THE latest Hotels.com Hotel Price Index (HPI) has revealed that hotel room rates are soaring across most of Asia, as the region continues to recover from the disasters and crises of 2011.
During the first half of 2012, hotel room rates in Asia rose four per cent year-on-year to stand at 108 on the HPI. Even though this was 18 per cent lower than its high in 2008, the recovery hints that the industry is back on track as travel to and within the region returns.
Prices in Singapore climbed by just one per cent to S$232 (US$188) per night, but key rival Hong Kong experienced a 13 per cent surge to S$219, while rising business hubs such as Seoul (up 23 per cent to S$200), Jakarta (up 16 per cent to S$167), Kuala Lumpur (up seven per cent to S$141) and Shanghai (up five per cent to S$138) recorded impressive uptrends.
Elsewhere in China, prices had their ups and downs with Guangzhou up two per cent to S$105 and Beijing stuck on S$136 as rates remained flat. Hangzhou fell 12 per cent to S$124 and Shenzhen was down six per cent to S$98.
Macau climbed 12 per cent to S$193, while Taipei was up 10 per cent to S$152, thanks to growing demand from China and an improving hotel stock.
In Japan, Sapporo rose 24 per cent to reach S$147, Kyoto saw its average price rebound by 13 per cent to S$192 and Tokyo was up two per cent to S$189. However, Osaka registered a drop of seven per cent to S$149.
In Thailand, Krabi was up by 15 per cent to S$147, Phuket rose 10 per cent to S$161, Koh Samui increased nine per cent to S$260, but Chiang Mai dropped 20 per cent to S$94.
The Indonesian island of Bali saw a rise of 11 per cent to S$237 while, in Malaysia, Langkawi rose seven per cent to S$252 and Penang was up one per cent to S$133.
Elsewhere, Cambodia’s Siem Reap saw its average price fall nine per cent to S$107, while Phnom Penh dropped 25 per cent to a great value rate of S$82. In Hanoi, rates were down 26 per cent to S$92.
*The latest HPI reflects the actual prices paid by travellers from Singapore in Singapore Dollars (S$) during the first half of 2012 compared to prices paid in Singapore Dollars for the same period in 2011.