CONFIDENCEis returning in the Asia Pacific region despite continued economic uncertainty, with hotel rates starting to rise again in Hong Kong and Thailand.
A survey of 1998 worldwide hotel rates by BTIHogg Robinson put Hong Kong back at the top of the league table, with an average rate of ú168.67 – up from ú157.97 in 1997 (see table above).
Jason Harris, head of the hotel relations and strategy said: “Indications are that the pendulum is beginning to swing back in the region, with some minor rate increases.
“Thailand was one of the first countries to be affected in 1997, with rate falls of almost 14%. In the past 12 months, we have seen increases in the region of 2%.”
However, rates continued to fall in other countries in the Asia Pacific region.
Malaysia saw a dramatic 37% drop to ú47.10, and since the middle of last year it has been the cheapest of all the 59 countries in the survey.
Rates in India fell 15% to ú116.24 while in Pakistan they plunged 22% to ú76.56.
Despite the run-up to the Olympic games, rates in Australia were also on the decline. Melbourne and Sydney both saw rates drop – Melbourne slipped 18% to ú83.12 and Sydney fell 14% to ú91.92.
However, rates are expected to rise sharply as the millennium approaches.