A new report has shown that across the world have been forced to slash in order to attract customers as the global recession takes its toll on the travel industry.
The survey compiled by Hotels.com showed that rates in Sydney are on average 30 percent cheaper than a year ago, rates in Auckland have tumbled 40 per cent, while in Singapore they have fallen by 35 per cent and New York by 30 per cent.
The biggest slump in accommodation rates was seen in Moscow, with the average price of a room dipping by 52 percent, whereas rates rose by 12 percent on the resort island of Capri.
David Roche, president of Hotels.Com said he was expecting 2009 to be a year of dramatic price reductions across the world and, so far it has been.
On the other hand, the massive cuts have had an impact on stimulating the tourism industry, as long-haul travel is on the rise.
Hotels.com Asia Pacific managing director Johan Svanstrom said that long-haul inbound travellers would see lower hotel rates to help offset the perceived expense of getting there.



