Hoteliers Slash Room Rates

The average price of hotel accommodation has fallen by 12%, according to the Hotel Price Index survey.

In North America rates were down 12% in the fourth quarter of 2008 compared to the year before. Sterling’s slide against the dollar meant that UK visitors paid just 4% less than the previous year, however.

In Europe prices dropped 10% during the same period, though the rise in the value of the euro meant Brits paid more than in 2007. Paris hotels cost 13% more, those in Milan 9% more and Madrid hotels were up 3%.

The Hotel Price Index, compiled by hotel booking website hotels.com, is based on prices actually paid by customers - rather than advertised prices - at 68,000 hotels across 12,500 locations around the world.

In the Caribbean and Latin America they fell by 7%, while in Asia, hotel prices held up slightly better, falling just 2%.

Prices in the UK were down 12%, the steepest fall in Europe.

"0This is the first time in the four years we have published the HPI that we have seen such marked price falls," said Hotels.com president David Roche. "British travellers can enjoy some great savings at home."

Everyone booking accommodation – even in UK - should remember to buy travel insurance, especially as they will not always have the financial protection afforded by a package holiday or the service of a tour representative.

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