The Hotel Price Index

In Switzerland, with the
Swiss Franc losing some
ground to the Pound in
the first half of the year,
rates continued to slide. In
Zurich, hoteliers dropped
their prices to remain
more competitive and the
average fell 8% over the
year to £133. In Geneva,
there was a 5% fall to £159,
although this still placed
the city in sixth place in the
overall price table.
Farther east, prices in Kiev
settled to register an 8%
rise to £106 for the year,
following its hefty increase
of 46% in the first half of
2012 as a result of hosting
the European Football
Championship in June.
Confidence returned to
the Middle East
Following the turbulent
start to 2011 with the
turmoil of the Arab Spring,
confidence returned to
much of the Middle East
and North Africa during
2012, allowing hotel
prices to rise as travellers
returned.
In Egypt, the Red Sea
resort of Sharm el Sheikh,
which had been particularly
badly affected by the drop
in visitor numbers, bounced
back 34%, the highest rise
in the HPI, to an average
£92 a night. Cairo still has
some way to go though
as its rates fell 7% to £98.
Marrakech also benefitted
from the increased
buoyancy in the market
and recorded a 10% rise to
£78 but Casablanca was
down 7% to £80.
Dubai, the most popular
destination in the region,
saw high occupancy
drive its rates up 14% to
£137 as more upmarket
hotels opened. Abu Dhabi
prices also rose 10% to £115.
Conversely, rates in Muscat
dropped 12% to £188 as the
city’s 5-star hotels lowered
their rates, although this
still placed the destination
as the second highest
priced in the table.
San Francisco
The Hotel Price Index review of global hotel prices: Jan - Dec 2012
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