The Hotel Price Index(TM) from Hotels.ca Shows Average Price of Hotel Rooms in Canada Fell 8% in 2009
In Canada, the HPI(TM) shows that Halifax and Quebec City had the highest nightly room rates of major Canadian cities compared to 2008, at an average price per room of $154.
The average price of a Canadian hotel room fell by 8% in 2009 according to the Hotel Price Index(TM)(HPI(TM)), released today by Hotels.ca. The site is part of the Hotels.com(R) worldwide group and conducts a regular survey of prices paid for hotels in major destinations around the world.
In Canada, the HPI(TM) shows that Halifax and Quebec City had the highest nightly room rates of major Canadian cities compared to 2008, at an average price per room of $154(*). Vancouver and Calgary were the third and fourth most expensive major Canadian cities with an average room rate price of $146. Montreal rounded out the top five with a nightly room rate of $144. Toronto placed eighth on the list at an average price of $135. The most expensive Canadian destinations were outdoor adventure/ski locations such as Lake Louise, AB ($236), Mont Tremblant, QC ($209) and Collingwood, ON ($202).
The Hotels.ca HPI(TM) tracks the real prices paid per hotel room rather than advertised rates. It is based on prices actually paid by customers for 94,000 hotels across 16,000 locations around the world. The HPI(TM) report issued today examines hotel prices for the year 2009, compared to 2008. The actual prices paid per room by hotels.ca and hotels.com customers around the world are tracked in the HPI(TM), using a weighted average based on the number of rooms sold in each of the markets in which the company operates.
Worldwide, hotel rates fell by 7% in the fourth quarter, compared to a 14% decline in quarter three, a 17% decline in quarter two and a 16% decline in quarter one.
"Step inside the time machine, turn the dial back to 2003, and compare hotel prices then and now. What's changed? Not much. Our latest Hotel Price Index(TM), covering all of 2009, shows that prices fell globally by 14% on already weak 2008 figures, bringing consumer prices back to levels not seen since 2003," said David Roche, President of Hotels.com worldwide. "Despite some possible first signs of hotel prices recovering in Europe and the US in the last quarter of 2009, the promotions and great value look set to continue for some time yet. 2010 promises to be another great year for the traveller."
Some key Canadian findings include
- In major Canadian cities, Calgary saw the largest drop in nightly
hotel room prices with a 12% decline, Edmonton experienced an 11%
decline and both Quebec City and Toronto had a 10% drop. A decline in
American visitors and business travellers were the greatest reason
for the nightly hotel room rate decline.
- Canadians still spent more on hotel rooms in outdoor adventure/ski
destinations on average; however, both Jasper and Whistler
experienced the highest price drops in major Canadian destination
cities with 16% and 22% declines respectively.
- The top destinations for Canadian travellers domestically were:
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Rank City
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1 Toronto
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2 Vancouver
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3 Montreal
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- Three American cities topped the list of international destination
cities for Canadians: New York, Las Vegas and Seattle. Only two
non-American international cities placed in the top ten, London,
England ranked at number four and Paris, France placed 10th.
- The top three Canadian destinations for international travellers
were:
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Rank City
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1 Toronto
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2 Vancouver
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3 Niagara Falls
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- Canadians spent the most for a night in New York City compared to all
other cities internationally. Despite a 15% drop in the nightly room
rate, the average price per night paid by Canadians was $262.
- The gap in prices between three-, four- and five-star hotels narrowed
in 2009 meaning travelers could spend less to get more.
