Hotel rates in destinations that are popular with Chinese travelers are 45% higher, with rates going even higher in Singapore and parts of Thailand.
Hotel rates are at an "all-time high," Alan Watts, Hilton's Asia-Pacific president, told "Rates are being fueled by travel demand that is like "a feast … to offset the famine," he said, referencing the pandemic.
"The most significant increase was recorded in Bali, Bangkok, Phuket and Singapore, with Bangkok topping the charts at over 70% and Singapore coming in at over 40%," he said. According to the booking platform Kayak, hotel prices across the region have been trending upwards, yet some of the highest average hotel rates have already started to fall.
Price hikes are helping hotels recoup substantial losses from the past three years and have the potential to "drive further growth," said Traveloka's Chakraborty.
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