Luxury Hotel Suite Prices Continue To Rise

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Release Date: April 30, 2008

Luxury Hotel Suite Prices Continue To Rise

By broadbandinternetproviders.net
April 30, 2008

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The average nightly room rate of luxury hotel suites worldwide has continued to rise over the course of 2007 as a result of a booming global economy and developing vacation resorts worldwide, according to a study released by Internet hotel review site ISuites.net.

PR9.NET April 30, 2008 - Edinburgh, UK - The average nightly room rates of luxury hotel suites across North America, Europe and Asia have risen dramatically over the course of 2007, according to the findings of a report released today by consumer review group ISuites.net.

Room rates have grown by 50% in some areas, with rapidly expanding economies in the East giving rise to a new worldwide tourist climate, whilst other major global economies continue to enjoy strong tourist demand.

William Scott of Isuites.net said that whilst the growth over 2007 was hardly surprising, there could be a downturn on the way over 2008, which has the potential to improve the situation for the consumer.

"The last year has been very much a boom period for the worldwide tourist economy. To me, it's really no surprise that luxury hotels have been bumping up their top-end suite rates and they will continue to do so over the first quarter of this calendar year. However the market is showing signs of turning the other way round, to provide consumers with better value as the global economy begins to tighten. My view is that we could see a somewhat different picture this time next year."

The study marks the second annual report by Isuites.net into luxury hotel and apartment suite prices worldwide.

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