Increases in hotel room rates around the world are being led by ‘supercities’ rather than national trends, according to a study published by Hogg Robinson Group (HRG).
The study found average room rates (ARR) have tended to be affected on a national basis but now individual destinations, such as Singapore, Barcelona and Beijing, are driving up room rates and “bucking” certain country’s economic trends.
The annual study analysed hotel room rates for key business destinations across the world to provide an insight into global business travel behaviour.
The study found Europe and America have taken the lead on ARR recovery in 2013 as markets and industries have picked up and business travel has been placed “firmly back on the agenda”.
HRG’s group commercial director, Stewart Harvey, said: "In our study last year we referenced “supercities” which had begun to buck national trends and forge their own path. We’ve seen this trend continuing to grow.
“We’ve seen it with cities such as Barcelona and Beijing, where exchange rates may not necessarily be working in their favour retaining strong positive growth as their popularity as both business and leisure destinations goes from strength to strength,” said Harvey.
He said the hotel industry has always been at the forefront of pricing with rates constantly adjusted to demand. “The need for the right hotel, in the right location, at the right price remains the primary objective for all corporate clients.
“The balance between price, location, quality and availability will continue to drive the market during 2014. This reflects the need for a well managed corporate hotel programme,” he added.