SINGAPORE- Hotel prices in Asia fell by 2 per cent in 2013, compared with the previous year, according to the latest Hotels.com Hotel Price Index. In Singapore, hotel prices leveled at S$263.
Tracking the real prices that hotel guests actually paid for their accommodation around the world, the HPI for Asia stood at 106 in 2013, 25 points lower than in 2007, when prices hit their peak.
In contrast, the average price of a hotel room around the world rose three per cent during 2013, in line with the past four years of steady rises since the financial collapse of 2008/9.
Hotels in Asia continued to offer some of the world’s best value hotel accommodation for Singapore travellers, with Asian destinations dominating 19 of the 20 lowest positions in the global price rankings. South Korea saw some of the biggest price drops in the region, as the depreciation of the Yen resulted in a large drop in the number of Japanese visitors. The average paid for Busan fell by 19% to S$137, whilst Seoul hotel prices tumbled 17% to S$169.
Singapore travellers parted with less in several holiday hotspots, including Genting Highlands, which was down 23% to S$86 and Langkawi, which dropped 15% to S$199.
Staycations also became more affordable for Singaporeans, as the average price paid for hotel rooms dipped in 2013 by 2% to S$230.
Falling Asia hotel prices provides added incentive for Singaporeans to travel
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