January 27, 2011 09:18 ET Price Index™ Review of Global Hotel Prices for February 2011

SYDNEY, AUSTRALIA--(Marketwire - January 27, 2011) - has revealed the Price Index™ review of global hotel prices for February 2011. If you are looking for the best value accommodation deals in February, then the™ Price Index is for you. Every month we search our database of 2,500,000 hotel deals to bring you the biggest hotel destination reductions available over the upcoming month as well as year-on-year falls and rises.

Online Price Index™ Review of Global Hotel Prices: February 2011 Report:


Biggest Price Falls in February 2011 (Month-On-Month)

Topping the list as the best destination for the value-conscious traveler in February is the island paradise of Malé, Maldives. Most of the 19.97% drop in room rate can be attributed to seasonal fluctuations, but this is still an amazing deal; February falls in the middle of the dry season and considered the best time to visit the exotic Maldivian capital.

Room rates are down 17.99% in Paphos, Cyprus. This drop might be attributed to local carrier, Cyprus Airways, cutting routes from Stansted, Manchester, Birmingham, Frankfurt and Athens, leaving local hoteliers with extra inventory. Travelers would be well advised to take advantage of this while it lasts.

Suffering from the impact of devastating floods in region as well as the end of the peak season, Gold Coast, Australia will see rates fall 15.64% in the coming month.
Although the Gold Coast was untouched by flooding and Tourism Queensland has encouraged travelers not to cancel their travel plans, local hoteliers are still struggling with decreased demand.

Biggest Price Falls in February 2011 (Year-On-Year)

Venice, Italy, will see room rates drop a staggering 26.86% YOY for February. Travelers should take note; due to a new taxation scheme, rates in Venice may appear lower than they really are. The new tax will require four and five star hotels to charge guests an additional 3 Euros per person, per night, with three star hotels charging an additional 2 Euros per person, per night. The tax must be paid in person, which will seriously affect the initial savings on hotel room rate.

The historic German city of Cologne will be down 23.95% YOY for February. These rates, however, are not expected to last past February with the Cologne Carnival, one of the biggest street parties in Europe, starting on March 3, 2011.

Paphos, Cyprus was one of our biggest price drops month-on-month for February, but it's also one of the most substantial rate declines year-on-year, as well. The coastal city will see the average room rate drop 19.51% YOY.

Biggest Price Rises in February 2011 (Year-On-Year)

Love is in the air on Valentine's Day, or in this case the 'mist' in Niagara Falls. The natural splendor of the falls continues to rise in popularity especially on Valentine's Day, providing a romantic opportunity for marriage proposals. Many men who will be in complete panic over February 14th may even overlook the 25.14% YOY price increase.

The city of Muscat, Oman, will experience record high room rates this February (up 20.37% YOY) as the city plays host to two major events. The Tour of Oman, an international cycling race that had an extremely successful début in 2010 and the popular Muscat Festival are both taking place in February. Hotels in the region will be running at high occupancy, pushing up rates.

Flood stricken Brisbane, Australia, made a surprise entry as one of the biggest price rises for February, with rates up 19.18% YOY. Despite hotels experiencing major losses from cancelled bookings, the average room rate rose due to the influx of volunteers and flood-displaced residents in need of accommodation.

Request Data & Commentary spokespeople are available as a media resource for expert quotes and hotel industry trend watching. In addition, customized statistical reports about worldwide booking and rate trends can be prepared quickly upon request.

About Price Index

The Price Index™ is a monthly survey of hotel prices in major city destinations across the world. The international scale of with 2,500,000 hotel deals in 50,000 destinations across 200 countries makes the Price Index™ the most comprehensive benchmark available, incorporating hotel price data direct from hotels and online travel agent websites.

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