The cost of a hotel room rose by 2 percent in 2010, info from a new survey has disclosed. The Hotel Price Index ( HPI ), showed clearly that costs rose by 1 percent in South America and the Caribbean and dropped by 2 percent in the East.

The average was turbo-charged by a 2 percent rise in North America. Costs for hotel rooms in Europe stayed flat last year, compared to 2009 and 2008, when costs slid for 7 consecutive quarters. The median cost of a room on the continent is now one percent less than it was in 2004, when the HPI was launched, and is twenty percent lower than when the average Western european price peaked in quarter 2 in 2007. [Read more...]