Hotel Rates Fall as Much as 26 Percent in August August 24, 2009 Hotwire reports New York, Vancouver hotels lead year-over-year price decline
By Stacy Straczynski
Hotel rates continue to drop in major city destinations, according to Hotwire.com. The discount travel site today released its monthly Hotel Rate Report, which lists the top 10 U.S. and Canadian cities experiencing the greatest year-over-year declines in nightly hotel rates. It reported that New York City and Vancouver, B.C experienced the largest drop this month.
Both cities' August hotel rates fell by 26 percent compared to last year's prices. This was the first time New York City topped the list and marked the fourth consecutive month Vancouver ranked in the top five.
Jacksonville, FL came in third with a decline of 22 percent. Miami, Las Vegas and Tampa all saw losses of 21 percent. San Diego and San Antonia both declined by 19 percent, followed by Oahu, HI with a loss of 18 percent. Minneapolis made it's debut on the list at No. 10, with a drop of 18 percent.
"The travel downturn is really hitting everyone now, not just the big tourist destinations," said Hotwire Group President Clem Bason, in a statement.
Last month, Vancouver and New York also led hotel rate decline, with losses of 33 percent and 25 percent respectively. Three cities showing significant July decline—Nashville (-18 percent), Toronto (-18 percent), and Portland (-21 percent)—have been pushed off the list.
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