U.S. hotel prices rose more than those in any other region last year. // © 2015 Thinkstock
The average price paid for a hotel room worldwide rose 3 percent last year, compared to 2013, according to the latest Hotels.com Hotel Price Index, a report on the movement in hotel prices in major destinations across the world. The average price paid by American travelers domestically rose 5 percent to $137, surpassing the global average, followed by the Caribbean, Europe and the Middle East, which experienced 4 percent growth.
Why It Matters:
The increase indicates economic growth, as well as that consumers are willing to spend more on travel. Prices rose in all but two of the top 50 most popular destinations in the U.S. in 2014. Urban centers that saw the highest year-over-year growth in price paid include Nashville, Tenn., Seattle and Denver.
-New York was the most expensive among Hotel.com’s Top 50 Domestic Destinations, with an average price paid of $271, an increase of 1 percent.
-Honolulu was the second most expensive U.S. city, with an average price increase of 6 percent to $220; it nonetheless reported a 1.2 percent increase in visitor arrivals.
-Nashville, Tenn., saw the largest price change, with travelers spending an average of $164 for rooms, a 15 percent increase. The city also saw its highest-ever tourism numbers in 2014.
-Seattle’s average rate rose 12 percent to $183, making it the sixth most expensive among the Top 50 Domestic Destinations.
-Denver experienced an 11 percent average price increase to $136; Colorado hotels reported a record number of guests.
-Four top destinations remained under the $100 mark: Reno, Nev., which was the most affordable Top 50 destination in 2014; Albuquerque, N.M.; Jacksonville, Fla.; and Pigeon Forge, Tenn.
What They Are Saying:
“While U.S. hotel prices exceeded the global increase of 3 percent, travelers were not deterred from exploring top and up-and-coming destinations alike,” said Neha Parikh, vice president and general manager for Hotels.com North America. “Growing consumer confidence and lower gas prices contributed to a number of U.S. destinations reporting record visitor numbers in 2014.”