Hotel Price Index - Hotels.com Press Room

8. Luxury for lessThe falling cost of luxuryTravellers searching for the best in hotel accommodationwere able to benefit from dramatic price falls across theworld in the first half of 2011.For example, five-star prices in Paris dropped by 39% to€188, in Miami by 22% and Cape Town by 15% after themarket re-adjusted following the heavy demand generatedby the football World Cup in 2010.substantially less than they did in the first half of 2010 shouldlook no further than the Hotels.com HPI guide to “Luxury forLess” in the table opposite which shows where in the worldfour-star and five-star hotels have fallen the most.ParisThere was excellent value to be had in Helsinki and Beijingwith top-end rooms available at €127, after 21% and 11%drops respectively, and in Marrakech at just €93 after an11% reduction.Although still expensive, travellers to New York also got“more bang for their buck” after a 10% drop for five-starproperties with the average price falling to €379.The biggest four-star faller was Shanghai, down 27% to €73,as supply increased because of new hotel projects and themarket re-adjusted after hosting the World Expo event lastyear. Cairo’s four-star rate was down 22% to €82 as hotelierscut prices because of falling demand from foreign visitorsagainst the backdrop of civil unrest.HelsinkiThere was an 11% drop in the average four-star room ratein Tokyo to €156 as Japan grappled with the earthquake,tsunami and Fukushima nuclear crisis in March.Those looking for the high life but wanting to spendThe Hotel Price Index Review of global hotel prices: Jan-Jun 201133