The average cost of a room in the US is now $137 per night. Overall the HPI has reached 113, up 10 points in a decade but lower than its 117 before the financial crisis of 2008. The greatest increases were seen in Europe, North America and the Caribbean, while Asia saw a deflation by 2 per cent. Overall travellers are now paying 3 per cent more on their hotel bill.
The highest index continues to be the Caribbean, at 137, on account of its luxury vacation resorts and absence of budet or no frills business accommodation. The Pacific region is similarly high. Asia remains the cheapest place to book a hotel, with an index of just 104, lower than the worldwide index when it was launched in 2004.
“Although the Index rose again last year, it is still way behind its peak of seven years ago, which is great news for consumers. Each year is unique in the travel industry and 2014 was no exception, bringing its own opportunities and challenges”, says Johan Svantrom, president of the brand.
Events such as the World Cup in Brazil tend to have a temporary effect on the index.