The post-covid world is more expensive than the prices we experienced before the pandemic. It’s for a variety of reasons and has hit every sector, including travel.
Late last year, American Express Global Business Travel (Amex GBT) predicted that hotel prices in 2023 would continue to rise. They expected some lodging rates to increase by upwards of 30%
- Buenos Aires: 30%
- Paris: 10%
- Stockholm: 9%
- Dublin: 8.5%
- New York City: 8.2%
- Sao Paolo: 7.7%
- Seattle, Frankfurt & Amsterdam: 7.5% each
- San Francisco: 7.3%
Amex GBT predicted that the Asia Pacific region would “only” go up by small amounts. They used Hong Kong as one example, saying its hotel rates would see just a 1.2% jump.
As it turns out, according to a new report from digital travel provider Digitrips, Asia is the only region in the world where 2019 hotel prices (and sometimes even less than that) could still be found in late 2022.
Emilie Dumont, managing director of Digitrips, said: “Hotels across Europe and North America have enjoyed high and steady demand in the latter half of 2022, leading to a consistent rise in room prices. In contrast, our data from MisterFly suggests Asia continues to lag behind as the late reopening means hotels must keep prices low to stimulate demand and lure back travellers.
“As a result, while visitors to Barcelona could expect to pay on average 30% more for their accommodation last December than they would have before the pandemic, staying in Tokyo or Bangkok was still significantly cheaper on average than in December 2019 – with a decrease close to 20% over the last quarter.”
This makes perfect sense, and we experienced it during our recent trip to Vietnam, Laos and Cambodia.
One of the places we stayed in Vietnam was the Hyatt Regency Danang Resort & Spa. Current prices average about $200/night. But in searching for 2018 prices, I found a blogger who said the rooms at that time were roughly $300/night in November through April and about $360/night during the summer.
While we were in Laos, we stayed at the La Résidence Phou Vao, a Belmond Resort in Luang Prabang. Suite prices in 2023 start at around $395 per night. A blogger stayed there in early 2017; they reported their suite was $450 per night.
The next stop on our tour was in Siem Reap, Cambodia. We stayed at the Sofitel Angkor Phokeethra Golf & Spa Resort. Prices currently start at approximately $168 per night for a superior double room. A blogger who stayed there in 2017 reportedly paid around £170 (US$204) a night for the same size room.
These price decreases admittedly don’t seem to be across the board. We also stayed at the Crowne Plaza Changi Airport for our 1 night in Singapore on the way home; rooms start at about $240 per night. Gilbert from God Save The Points stayed there in 2018 and he reported starting rates of about $150.
Of course, the Crowne Plaza Changi Airport is an airport hotel – and one at a very popular airport. On top of that, the prices for hotels in Singapore are apparently at a 10-year high. So although you may get some good deals in other Asian countries, Singapore maybe not so much.
Meanwhile, if there was ever a time to go to Asia, this is it, travel friends!
H/T: Travel Daily Media
Feature Photo: Hippopx
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