Research by Hotel.com has revealed a 3-per-cent increase in global accommodation prices, while Thai travellers last year spent Bt1,720 for domestic accommodation – a 7-per-cent decrease from 2017.
According to the latest Hotel Price Index (HPI) from Hotels.com, there is no sign of a slowdown for the global travel industry and last year Thai travellers paid the same average price of Bt4,437 a night for international accommodation.
The growth in travel comes despite uncertainty such as Brexit, the wildfires in California, drought in South Africa and earthquakes in Japan. Travellers also showed resilience and renewed confidence in destinations touched by unrest, among them Paris, Egypt and Turkey, regions experiencing currency fluctuations; South America, and areas affected by natural disaster; and North America.
Despite the overall growth in global accommodation prices, average prices paid for domestic accommodation in Thailand have decreased, with average prices for international accommodation remaining stable.
“HPI has always given us a good barometer on the industry and an insight into global travel trends. This year we have seen growth despite a lot of political challenges and natural disasters, which indicates that the industry shows no signs of slowing down,” said Adam Jay, president of the Hotels.com.
With the HPI setting at 100 in its inaugural year, 2004, the index format allows Hotels.com to highlight year-over-year variations in actual prices paid per night by travellers without foreign exchange fluctuations distorting the picture.
Last year in Thailand, the HPI showed that in the top 10 most expensive cities, namely Nakhon Ratchasima, Bangkok, Sattahip, Krabi, Rayong, Koh Phi Phi, Koh Samui, Phuket, Hua Hin and Cha-Am, average accommodation prices ranged from Bt2,114 to Bt3,131 per night.
People paid between Bt6,054 to Bt8,418 to stay overnight in the top 10 international destinations including Chicago, Los Angeles, San Francisco, New York, London, Paris, Amsterdam, Barcelona, Copenhagen and Milan.
HPI also reveals many interesting results regarding average prices and popularity of destinations among Thai vacationers travelled around the world in 2018 including:
The most expensive average price paid – New York with an average price of Bt8,418 a night
The best value destination – Phnom Penh, average price of Bt1,780 a night
Most popular destination – Tokyo, with an average price of Bt4,789 a night
Highest in popularity – Istanbul, Turkey with an average price of Bt3,874 a night
Largest average price increase – Moscow, Russia, with an average price per night increase of Bt943 (Bt 4,759 a night)
Largest average price decrease – San Francisco, with an average price per night decrease of Bt2,763 (Bt7,395 a night)
In addition to the great value destinations and hidden gems found in the HPI, travellers that haven’t padded their wallets with cryptocurrency yet, can take advantage of programs like Hotels.com’s Rewards, which lets them earn free nights while the sleep.