S'pore room rates down 9% last year: Hotels.com

Singapore

HOTEL rates in Singapore fell 9 per cent last year on the back of geopolitical tensions and a series of aviation incidents, signifying more affordable holidays for travellers to the Republic.

This is according to the most recent Hotels.com Hotel Price Index (HPI), which measures hotel room rates based on bookings made on the online accommodation booking website. The HPI tracks the actual prices paid per hotel room rather than their advertised rates.

On the whole, hotel rates around the world were higher, with the average price paid for a hotel room rising 3 per cent year-on-year in 2014. This was thanks to greater momentum in overall economic recovery and higher consumer confidence in travel spending. The rise in room rates saw the global HPI stand at 113 in 2014, an increase of 13 points since its debut in 2004. However, the figure remains lower than its peak of 117 in 200…