Hotel room rates are set to rise substantially in the year 2019. These are cause by a multitude of factors depending mainly around demand and supply. A tourism consulting report titled Hotel Monitor 2019 published by the American Express Global Business Travel, has confirmed these figures. Rates will grow between 3 and 17% in most European cities, but will be more moderated in the US or Latin America. The only region that will go away from this trend is the Middle East where rates will actually drop on average by 13%. This is because of a large number of underused properties built in recent years, plus the tensions generated by geopolitical unrest. Among cities with the highest rise will be Istanbul, Ankara and Dublin at 17, 11 and 7% respectively. In the Asia-Pacific region, Auckland, Shenzhen and Manila are expected to see the highest rise.

Source:https://www.tourism-review.com/hotel-rates-expected-to-increase-news10729

Uploaded Date:13 September 2018