Cheer up Philadelphia Eagles fans, your team may be out of the playoffs but your city has just gotten a little more enticing for travelers. Hotwire.com has released the results of its January 2010 Hotwire Hotel Rate Report, which features the top 10 cities in North America where hotel rates have dropped the most, and Philadelphia (with a 16 percent drop) knocked Houston off the pedestal down to sixth after being in the top spot for three months.
Despite gloomy predictions for the travel industry from analysts in 2008, many hoteliers in Philadelphia and other parts of the Northeast U.S. were slow to adjust their prices to the economic climate, waiting until after January. As a result, Philadelphia tops this month's list. Newcomers Washington, D.C. and Baltimore (percentage drops of 15 and 14 respectively) join mostly because of the Presidential Inauguration last year, which caused room prices to spike. Hotel inventory has normalized and, due to slow seasonal trends typical of January, hoteliers in the region have lowered rates to fill rooms. This is a great time for travelers looking for an after holiday getaway as crowds are low in these historic locales and rates are even lower on Hotwire.
When compared to the same time last year, the top 10 hotel price reductions for January 2010
"Although analysts are predicting that 2010 will be a better year for the economy, plenty of locations will still be offering exceptional travel deals, especially at the beginning of the year," said Clem Bason, president of the Hotwire Group. "Business and leisure travel are still down right now, which means great rates and availability in top destinations."