Thursday, March 24, 2011

Malaysia recorded 17% year-on-year rise in hotel prices

According to the latest Hotel Price Index, the average cost paid for a hotel room night in Malaysia in 2010 was US$118, representing a 17% increase over 2009.

Johan Svanstrom, Vice President and Managing Director for in Asia Pacific, told ADOI, “Even though prices in Asia Pacific fell last year as compared to 2009, the price level in the region is 15% higher than in 2004 when the Hotel Price Index was first launched. We are seeing a varying price landscape in Asia Pacific with some markets recording price declines, but hubs like Malaysia and Singapore are recording healthy growth in room rates thanks to strong bounceback in corporate travel and renewed tourism interest from the rest of the world.

The Malaysian government continues to invest in the country as a tourism destination, so it is no surprise that Malaysia is enjoying growing popularity among corporate and leisure travellers alike.”

The city within Malaysia that recorded the highest hotel room prices paid was Langkawi. An average room night on the island cost US$201 in 2010, recording 11% increase over the preceding year. Kuala Lumpur , the capital of Malaysia , also saw a year-on-year price increase of 15% to US$111 per room night paid in 2010.

Neighbouring country Singapore was the most popular choice, despite soaring hotel room prices. In 2010, Singapore recorded a 33% increase in average hotel room prices paid over 2009. Hong Kong and Tokyo ranked second and third respectively.

London was the most popular non-Asian destination followed by Melbourne and Sydney.

Despite rising prices in Singapore , hotels in other popular destinations among Malaysians such as Bangkok recorded a price decrease of 1% in prices paid, while hotels in Vietnamese city, Ho Chi Minh, registered a 6% decrease.

Johan comments: “Short haul travels are increasingly popular among Malaysians particularly because of the availability of low-cost carriers and the appeal of mid-range hotels. Malaysian travellers should probably maximise the opportunity to travel to the cities with lower room rates now before these destinations too jump on the bandwagon of hotel price increases.”

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