Hotel Room Rates Are On The Rise

Hotel room rates continue to rise, hit pre-recession numbers in 2015.

For years, hotel rooms prices have been relatively low, at least compared to their pre-recession counterparts. In 2015, though, it looks like the hotel industry has finally rebounded from the financial crisis. Hotels.com shows that room rates have decisively surpassed 2008 and 2009's numbers in their latest Hotel Price Index report. To determine the movement of room rates, Hotels.com looked at the average price people paid at hotels in the top 50 destinations across America. Generally, their report found that domestic hotels had their rates increase in 2015. In fact, the average hotel price index increased by 2 percent in the first half of this year. Among the top five most popular domestic travel destinations—Las Vegas, New York, Orlando, San Diego, and Los Angeles—the average change in room rate was an increase of 3.4 percent. Among the top 50 most popular destination, only Houston, New York, and Atlantic City saw rates drop. Seattle, Chicago, Portland, and Nashville all posted rate increases of 9 percent, and the Grand Canyon posted an impressive 12 percent rate increase, topping the chart. Clearly, the United States hotel industry is rebounding from the troubles the financial crisis brought it. In fact, if things continue to trend the way they have in the last few years, hotels can expect a steady rise of room rates. Are you interested in getting involved in this healthy, growing industry? To learn about how hospitality construction can help you bring your vision to life, contact Parkwest General Contractors. We have customized and perfected our services so that we can help every step of the way, from pre-construction to your ribbon cutting!