Stat: U.S. Hotel Prices Outpace Global Average

Hotel prices paid for U.S. domestic travel rose by 5 percent in 2014, surpassing the global average of 3 percent, according to the latest Hotels.com Hotel Price Index.

Hotel prices have now experienced five years of steady price rises since they plummeted during the financial collapse of 2008.

The average price paid by U.S. travelers domestically rose 5 percent to $137, with prices rising in all but two of the Top 50 most popular destinations in the country. Internationally, the strength of the dollar led to price decreases in many of the most popular destinations for American travelers in Latin America and Asia-Pacific, where travelers received more value for their money.

The global HPI stood at 113 at the end of 2014, 13 points higher than at its launch in 2004 and on a par with its 2008 level but still four points lower than its peak at 117 in 2007.

Of the six regions in the HPI, the Index rose in four, remained steady in one and fell in another. With a strong economy and rising dollar, North America led the way with a rise of 5 percent, 2 percentage points better than its 2013 result.

Two regions reported 4 percent Index growth. The Caribbean achieved a new record, rising to 137 – the highest yearly regional Index figure ever reached. This was fueled by a stronger U.S. dollar as the Caribbean remained a firm favorite for U.S. travelers. Secondly, Europe and the Middle East showed its fastest rate of growth in seven years, as many countries reported record visitor numbers for the year.

Latin America registered a 2 percent Index rise. World Cup hosts Brazil exceeded expectations when it came to its hospitality industry.

The Pacific showed no growth in its Index in 2014 but the continued weakness in the Australian dollar could mean that the region will attract more visitors in 2015.

In Asia, the Index decreased by 2 percent.

Source: Hotels.com Hotel Price Index