SINGAPORE - Singapore had the third-highest average hotel room rates in Asia-Pacific last year, booking in at $235.80 a night, up 3.8 per cent from 2013, according to a survey released on Monday by HRS, a global hotel solutions provider.
Melbourne, followed by Sydney, took the top slots for cities with the most expensive average room rates in the HRS Annual Price Radar for 2014.
With a 30 per cent hike to $289.20 per night, Melbourne saw the biggest increase in hotel room rates, which HRS attributed to the success of the state government's drive to position the Australian city as the events capital of the world and boost tourism through meetings and events.
Based on data collected from all hotel bookings made via its hotel portal in 2014, HRS looked at per night room rates and found that hotel rates fluctuated widely across the Asia-Pacific region throughout the year.
HRS, which has more than 40,000 corporate customers, said its analysis also revealed the varying impact of political instability in different countries.
Bangkok experienced a 10 per cent drop in average room rates to $91.20 in 2014, as it struggled to overcome the impact of the tenuous political situation and unrest that plagued Thailand in the middle of last year.
Hong Kong, on the other hand, which is fourth on the list for most expensive hotel room rates, saw a drop of less than a percentage point even with the Occupy Central civil disobedience movement taking place in the second half of the year. Hong Kong's relatively more established position as a financial and business hub in Asia Pacific might be one of the reasons for this discrepancy, said HRS.
SOURCE: HRS ANNUAL HOTEL PRICE RADAR 2014
Hotel rates in other economic powerhouses such as Sydney, Singapore, Tokyo, Hong Kong, Jakarta and Beijing, remained fairly stable with a change of less than 5 per cent as compared with the previous year.
"Hotel room rates are a key indicator of both tourism and business travel levels throughout the year and our analysis shows that companies have confidence in the Asia-Pacific region and are continuing to push for global growth," said Mr Todd Arthur, managing director for the Asia Pacific at HRS.