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Hotel Rate Development 2013

Most Asian Cities getting more affordable, though Bangkok sees sharp increase. Most Asian Cities getting more affordable, though Bangkok sees sharp increase.

COLOGNE / SINGAPORE – Comparatively, hotel room rates have fallen as compared to 2012 in most Asian cities except for Taipei (plus 3.66 per cent) and Bangkok (plus 11.03 per cent), which has one of the highest increments worldwide. Price competitiveness and differentiation have led to a price war within popular cities such as Singapore (144.53 €), Tokyo (134.35 €) and Seoul (136.24 €) where throngs of tourists visit annually in the recent years. In addition, the Indian cities such as Delhi (minus 26.63 per cent) and Mumbai (minus 12.43 per cent) witness a substantial drop on average room rates as well as compared to 2012.

New York is the global frontrunner, followed by Rio de Janeiro and Sydney

The hotel room rates partially decreased significantly in around two thirds of international metropolises. Especially Tokyo, with 134 Euro per room (a minus of 19 per cent) has significantly reduced room rates than in the year before. Mumbai, Shanghai and Buenos Aires all saw a decrease of ten per cent on the average room rates,too. Mexico City (plus 13 per cent), Bangkok (plus 11 per cent) and New York (plus 9 per cent) are now more expensive. The city that never sleeps therefor holds the front runner position worldwide. Hotel owners in New York had set their rates at 187 Euro per night at an average, followed by Rio de Janeiro (179 Euro) and Sydney (174 Euro). For that price, one could have booked nearly three nights in Kuala Lumpur (58 Euro), Shanghai (64 Euro) or Bangkok (65 Euro).

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