Asia-Pacific hotel prices: stable ahead of holiday season
Tuesday 08 March 2011
Hotel prices in Asia are holding steady in anticipation of the mid-year school holidays, according to the most recent Asia-Pacific hotel rates indicator from Wotif.com.
Although prices in several places in Australia ticked up between February and March, Wotif's forward forecasts suggest that most Australian cities will see little change in rates for the coming months, with the exception of Darwin, which approaches its peak season in May to September.
In other Asia-Pacific destinations there is a similar story, with only slight increases or decreases experienced between February and March, said Wotif.com, including a slight rise in nightly rates in Beijing ($156 in March), Singapore (SGD331/$262 in March) and Osaka, Japan (¥14,702/$179 in March).
The largest rate fall between February and March was seen in Phuket, Thailand, where Wotif.com's Matthew Varley says demand has fallen - and prices will continue to drop too.
"Phuket enters its hot season - with very hot, dry weather - in March to May," he explains.
"In response to falling demand, resorts on the island have adjusted their rates accordingly, with prices falling by over 30% over these three months."
Average hotel rates in Phuket are currently forecast to drop to THB5,655 (approx US$185) per night in April and even lower at THB4,374 (approx US$154) in May.
Asia's most expensive destinations - March 2011
1. Langkawi, Malaysia $286
2. Singapore $262
3. Perth, Australia $244
4. Tokyo, Japan $244
5. Bali, Indonesia $232
6. Sydney, Australia $228
7. Phuket, Thailand $225
Data provided by Wotif.com
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