Hotwire Reveals Hotel Rate Report for November 2010

SAN FRANCISCO, Nov. 22, 2010 /PRNewswire/ -- Hotwire.com®, a leading discount travel site, today announced the results of the November 2010 Hotwire® Hotel Rate Report. The report features the top five cities in North America where hotel rates have dropped the most and the top five cities where rates have experienced the biggest price increase. While one report guides customers to the destinations that will maximize their travel dollars, the other helps inform travelers when using Hotwire to save money will be even more essential.

Top Five Price Drops:

Syracuse, New York, makes its debut at number one on the top five price drop list with a fall of 11 percent.  Price decreases here are mainly due to new properties in the area that are offering amazing deals, prompting other hotels in the area to lower their rates to compete.

The Reno, Nevada area has been suffering a lull in demand due to a lack of special events and group tourism in the area. Bookings for November through the end of the holiday season are trending very light. In addition, new hotels are coming on board this year, which leads to a surplus in rooms and lower rates. Weekday rates are especially low in downtown Reno.

Richmond, Virginia and Omaha, Nebraska make the list for the second month in a row with a six and four percent drop, respectively. Both cities also continue to face a decline in group and business travel, which has resulted in a decrease in hotel rates.

When compared to the same time last year, the top five hotel price reductions for November 2010 include:

Top Five Price Increases:

Charleston, South Carolina tops this month's list due to a big jump in occupancy over 2009. According to the STR Global Report, demand has increased and occupancy is up from 58.8 to 65.6 percent year-over-year.  This is prompting hotels to raise prices; with a focus in the downtown historic district.  There are a limited number of rooms, so prices spike when demand is high.

Atlantic City also makes its debut on the list at the number two spot with a 24 percent increase. Rate increases here are primarily driven by 4-star hotels, who are seeing demand come back considerably this month.

Toronto jumped back on the list at the number four spot due to strong convention and events business this month and last, not to mention a visit from the Dalai Lama.

Niagara Falls and Miami returned to the list this month at the number three and five spots, respectively. The boost in Miami's travel economy is due to higher convention business and the number of big events in town. Niagara Falls' price increases are due to the rise in transient and small group business, leading to fuller hotels.

When compared to the same time last year, the top five hotel price increases for November 2010 include:

"Overall, 2010 has been a year of recovery for the hotel industry, but no matter the economic situation, hotels will always have unsold inventory to sell," said Clem Bason, President of the Hotwire Group. "When they do, they use Hotwire to sell them at deeply discounted prices. That means consumers can find amazing deals, year-around, in just about any of their travel destinations."

Over 1.8 million hotel rooms go unsold across North America every night. Hotwire is able to deliver great deals across all types of markets because it works with hotels, airlines, and car rental companies to fill unsold inventory.

About the Hotwire Hotel Rate Report

The Hotwire Hotel Rate Report will run results during the second week of each month. Results are calculated by looking at Hotwire stay dates for select regions in the current month, and comparing prices in the current month against Hotwire prices in the same month in the prior year. Prices are compared within the same star rating categories for consistency, and the percent change in price for each region is generated as an overall average of the changes in those categories. The prices in the charts above are examples for a particular star rating category within that market, and actual prices may be higher or lower than the example that is provided.

About Hotwire

Hotwire.com is a leading discount travel site with low rates on airline tickets, hotel rooms, rental cars, cruises and vacation packages. Launched in 2000, Hotwire negotiates deep discounts from its travel suppliers to help travelers book unsold airline seats, hotel rooms and rental cars. J.D. Power and Associates 2008 Independent Travel Web Site Satisfaction Study(SM) recognized Hotwire for ranking "Highest in Customer Satisfaction Among Independent Travel Web Sites, Three Years in a Row." Hotwire is an operating company of Expedia, Inc. CST# 2053390-50. NST: 20003-0209. For more information, visit http://www.hotwire.com/.

Hotwire, Hotwire.com and the Hotwire logo are either registered trademarks or trademarks of Hotwire, Inc. in the U.S. and/or other countries. Other logos or product and company names mentioned herein may be the property of their respective owners. © 2010 Hotwire, Inc. All rights reserved. CST# 2053390-40.

SOURCE Hotwire.com

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED