Global Hotel Rates Decline as Much as 35 Percent in Q1

Last we blogged about declines in hotel rates, and now Ovation Travel Group has confirmed it. The travel management company recently found that hotel room rates dropped an average of 17.4 percent in the first quarter of 2009 in 30 major global destinations.

Compared to average rates in Q1 of 2008, the rates of all 12 U.S. destinations surveyed—Atlanta, Boston, Chicago, Dallas, Houston, Los Angeles, New York, Philadelphia, San Diego, San Francisco, Seattle, and Washington, DC—dropped. New York City has one of the 10 global destinations that showed a year-over-year decrease of over 20 percent with a 29.6 percent drop.

Delhi, Dubai, Hong Kong, London, Mexico City, Mumbai, Paris Singapore and Toronto were the other nine cities with declines of over 20 percent. Singapore hotels saw the biggest decline at 35.2 percent.

Four destinations did see an increase over 2008 rates: Abu Dhabi, Dublin, Milan and Tokyo.
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