Global Hotel Prices Keep on Rising

The price for a hotel room continues to creep higher.

A new study shows that the average cost to get a room around the world increased by 2% during the first six months of 2013 compared with the same period the previous year, according to the Hotel Price Index.

The HPI tracks prices hotel guests paid for their accommodations around the world.

Latin America registered its strongest result for more than two years with a 7% increase in hotel prices. Bolstered by the strengthening U.S. economy, North America and the Caribbean outperformed the global average with increases of 3% and 5% respectively.

It was a different story for Australia and Eurozone countries. The decline in the Australian mineral resources industry led to a fall in the number of business travelers and weaker hotel price growth of 1%. Hotel prices in Europe and the Middle East remained sluggish, also recording a 1% increase.

Asia was the only region to see a fall in prices by 2% in the first half of 2013, according to the report.

These price increases may not be steep, but they do add up. So to help cope with the extra costs, check out these 5 tips for getting a better deal on hotels:

Bundle travel essentials
There’s an increasing trend in hotels and airlines teaming up on loyalty programs. For example, a new partnership between Starwood Hotels & Resorts and Delta Air Lines allows Starwood Preferred Guest platinum and gold members to earn Starpoints when they purchase Delta fares.

This means that travelers can save plenty of cash by bundling hotels and flights. Look into these loyalty programs to find something that might meet your travel needs.

Reach out on social media
Try tweeting the property before you book a hotel to see if there are any deals available. Many hotels announce their specials on social media first. You can also try connecting with the hotel on Facebook or Google+ to let them know how excited you are to visit. That’s good PR for them and sometimes it can lead to a free upgrade.

Also, be sure to reach out to us here at Fareboom via Twitter. We might be able to help you find a great deal.

Pay attention to timing
The date you book a hotel for can have a big influence over how much you pay. For example, prices tend to drop in New York City during the summer. So do a little research to find out when the best time to book it.

Save with a different location
Rather than staying right in the heart of an urban center, considering reserving a hotel room just a few miles away from all the hotspots. This re-location could save you a tremendous amount of cash as some downtown hotels can be pricey. But first, make sure you won’t end up paying more for fuel or transportation.

Remember those business perks
Many corporations offer big savings on hotels for their employees. But what many people don’t realize is that these perks sometimes apply for spouses, relatives or even just friends. Check with your human resources department to find out if that great hotel discount also extends to family members. It could save you a bundle.

You can also save money on hotels by booking a room at Fareboom. Give our powerful hotel search engine a try and find out how much you can save.