How have accommodation prices changed globally?
The Hotels.com Hotel Price Index (HPI) was set at 100 in 2004, its inaugural year. By showing accommodation price changes in an Index format, you can easily see the year-over-year variations in actual prices paid per night by travellers without foreign exchange fluctuations distorting the picture.
Global HPI figures
- In 2017, the global HPI reversed 2016’s downward trend and rose 2 Index points to 116.
- This is the closest it has been to 2007’s peak of 118 before the global economic meltdown.
- The Pacific and Latin America both rose 5 Index points
- The Caribbean was up 4 points
- Europe and the Middle East and Asia both saw a 2-point rise
- North America had no change.
- The Pacific rise to 126 was its highest rise since 2012.
- This ensured the region had the third highest HPI, behind the Caribbean and Latin America.
- The Asia HPI rose for the first time since 2012, breaking the 100 mark as it rose 2 points to 101.
- For the last four years, the Asia has had the lowest HPI amongst the regions and has been either flat or falling since 2013.
Latin America HPI
- The Latin America HPI has seen volatile results since 2004, but was a star performer in 2017, adding 5 Index points, rising to 131.
- Latin America had the second highest Index behind the Caribbean.
- The Caribbean HPI set another all-time high, climbing 4 points to 143.
- 2017 followed eight years of continuous growth, keeping the Caribbean HPI well ahead of the other regions, a position it has held since 2012.
Europe and Middle East HPI
- The Europe and the Middle East HPI recorded its fastest rate of growth in four years, climbing 3 points to 112, following three years of no change.
- The region has now risen 11 Index points since 2009, but is still 6 points off its 2007 peak.
North America HPI
- North America was the only region to record no change from its 2016 level with its Index stalled at 120.
- Prior to this, there had been seven years of continued growth in the region’s Index since its low point of 96 in 2009.