Hotel rooms prices increases globally in H1 2012
The hospitality sector around the world is showing a healthy sign and emerging from economic recession fast. Media reports quoting a recent study said that hotels across the world have increased the prices of their rooms.
According to the study, the recovery in the hospitality sector has gathered pace and a 4 percent increase has been reported in the first half of 2012. The report, however, said that the average prices continue to remain at 2005 level.
The report outlined that cheap hotels were hardly available and the travelers for the first time in five years had to pay more on average for reserving their hotel rooms during H1 2012 in all parts of the world.
The report said that the 4 percent increase globally as compared to the same period in 2011 has now clearly established the fact that the economic recovery in the hotel industry was on upward trend.
Industry experts said that hotel prices in much of the Middle East and North Africa and increased as confidence returned following the Arab Spring turmoil in 2011. Even the travelers from Japan and other Asian countries put behind the turbulence of the earthquake, tsunami and nuclear disaster in March 2011.