Destinations in AP Offer Increased Value as Hotel Rates Drop

According to the latest Hotels.com Hotel Price Index (HPI), Asian destinations provide excellent value for Singapore travellers, with 21 of the 31 falls in the HPI occurring in the region in the first half of 2014.

The highest percentage decreases in the report were in Asia Pacific, with a 21% drop taking Busan and Hanoi to Sin$120 and Sin$89, respectively.

The impact of the political turmoil in Thailand was also clearly reflected with lower rates recorded in Pattaya where rates fell 13% to Sin$115, whilst Bangkok took an 11% tumble to Sin$106.

“While the rest of the world witnessed steady growth in hotel prices, there was widespread variance across Asia Pacific, with the region being the only one globally not to record an increase in prices. From a consumer perspective, Asia continues to give the best value globally for accommodation,” said Katherine Cole, Regional Director for the Hotels.com brand. “With the rising availability of competitive and easily accessible airfares from low-cost carriers, we expect to see travel demand to the region continue to rise and accelerate as we progress into 2015.”

Despite being named the world’s most expensive city by the Economist Intelligence Unit earlier this year, hotel prices in Singapore have dropped in the first half of 2014 compared to the same period last year.

According to HPI, the average price paid for a room in Singapore decreased by 5% year-on-year.

“We found that the mainland Chinese are especially enthusiastic about travelling to Singapore. It’s no surprise then, that search data through our China website shows that Singapore ranks among the top 5 most popular destinations for the Golden Week holidays in October. Singapore was also the third most popular Asia destination amongst Chinese travellers in terms of places they wish to visit in the next 12 months. We believe there is a lot of opportunity to tap into the growing number of Chinese travellers and their interest in Singapore,” Cole added.

The biggest percentage price falls in H1 2014 compared with H1 2013 in Sin$:

Destination - H1 2014 - H1 2013 - % change

Busan - $120 - $152 - -21%

Hanoi - $89 - $113 - -21%

Istanbul - $198 - $248 - -20%

Taichung - $94 - $115 - -18%

Delhi - $168 - $202 - -17%

Batam - $97 - $116 - -16%

Perth - $232 - $275 - -15%

Mumbai - $181 - $209 - -13%

Brisbane - $203 - $233 - -13%

Pattaya - $115 - $131 - -13%

The Hotels.com Hotel Price Index (HPI) is based on bookings made on Hotels.com sites around the world and tracks the real prices paid per hotel room (rather than advertised rates).