Hotels.com reveals 22% price drop in Chicago hotel rates
According to the latest hotels.com Hotel Price Index (HPI), Chicago, Illinois had the third largest drop in hotel rates with a 22% fall, despite having the eighth highest hotel rates among US cities in the first half of 2009. Illinois had the sixth highest rates among the states, while other Midwest states including North Dakota, Kansas and Oklahoma were among the nation’s least expensive states in the first half of 2009.
Steve Dumaine, senior director of merchandising for hotels.com, said: “Despite being listed as one of the most expensive cities for hotel rates, Chicago hotels are still offering some of the best deals for travelers especially those looking for luxury rooms at discounted rates. Other Midwest states are continuing to lure travelers with steady low rates.”
The fall in room rates was driven by price drops across every state in the US, except North Dakota which remained flat.
According the HPI, Chicago remains one of the top US destinations for domestic travelers ranking fourth behind Las Vegas, Orlando and New York hotels. Chicago also featured in the top 10 most popular US destinations for international travelers, ranking seventh.
All Midwest states, with the exception of Illinois, are listed among the bottom half of states with the lowest average price per room per night. The average price per room per night in the first half of 2009 in Chicago is $135 on average, with a 22% drop from last year. Chicago ranks eighth among US cities for highest hotel rates.
Upper Midwest states including South Dakota, Wisconsin and Minnesota saw a slight higher drop percentage in per room price than central Midwest states including Kansas, Nebraska and Iowa.
The hotels.com HPI tracks the real prices paid per hotel room rather than advertised rates, using a weighted average based on the number of rooms sold in each of the markets in which hotels.com operates. The HPI report issued today examines hotel prices paid at 78,000 hotels across 13,000 locations around the world for the period January to June 2009, compared to the same period the year before.
The international scale of hotels.com in terms of both customers and destinations makes the HPI one of the most comprehensive benchmarks available, as it incorporates both chain and independent hotels, as well as specialty lodging options such as vacation rentals and bed and breakfast properties.
hotels.com is a leading provider of lodging worldwide - including Fort Lauderdale hotels and Los Angeles hotels - offering an extensive selection of more than 85,000 properties ranging from traditional hotels and vacation rentals to bed and breakfasts and all-inclusive resorts. hotels.com serves as an advocate for guests before, during and after their property stay. To help travelers choose the right property for each trip, the company provides a variety of tools and features, including property descriptions, rate calendars, maps, virtual tours, and more than one million guest reviews. hotels.com offers additional value for guests through its Price Match Guarantee, Risk-Free Booking and welcomerewards programs. hotels.com is an operating company of Expedia, Inc. (Nasdaq: EXPE).
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