At Mighty Travels we are looking at hotel prices every day. A big part of what I do is to spot trends. Hotel rates are obviously influenced by demand but outside of the US the major currency fluctuations play a major role too. Hotel rates can tell you a lot about overvalued and undervalued currencies.
During the last couple of weeks many emerging economies such as Malaysia, Kazakhstan and Turkey have seen major devaluations of their currencies against the dollar. This has reduced hotel prices quickly.
However some destinations have more competition and/or see a lack of demand. Many of those ‘all star’ destinations seem to have low rates even when their currency is doing well.
We have compiled a list of 50 cities that are currently great value – in each city you will find a well-rated four or five star property (according to Orbitz) for under $50 for a good part of the year. Some destinations are more seasonal than others so not every day will yield a good hotel at a decent rate.
Ho Chi Minh City
Las Palmas de Gran Canaria
Las Vegas, NV
Trends and Remarks for the TOP 50 cheap & luxurious destinations for 2015
Thailand, Cambodia and Vietnam have long had very competitive hotel markets that provide travelers with quality accommodation for small amounts. Indonesia’s ever falling Rupiah has made hotels on the archipelago extremely cheap now (think $15 for decent 4 star chain hotels).
Southern Europe (with the exception of Greek islands like Mykonos) has seen depressed demand for many business hotels. Many Southern European cities allow deals under $50 for good quality hotels like Rome, Madrid, Seville, Athens, Rome, Venice, Milan, Bologna or Alicante. It’s interesting that also the Canary Islands see the same lack of pricing power.
It is interesting the hotel rates in Frankfurt, Germany go so low. While Frankfurt has always been cyclical we feel this might be saying something about the German Economy.
Turkey is seeing a much lower exchange rate against the dollar and stagnation in their Economy – something that depresses hotel prices in most major cities. Bursa (just east of Istanbul) has now some of the cheapest Sheraton and Hiltons in the world.
Egypt has been beset by political uncertainty and violence. While the area around the Red Sea has been more calm – prices are still depressed. It’s not unusual to find a major chain hotel under $50 even in winter now (that is Egypt’s main season).
Colombia‘s peso dropped by 40% in the last 12 months against the dollar. However Colombia’s economy isn’t doing so badly therefore prices in business centers like Bogota haven’t moved but stayed flat against the dollar.
India‘s weak Rupee and the explosion of new properties has depressed prices there especially in second tier cities. We featured the Park Hyatt Hyderabad for just $68 – which is an amazing price by any means. This is THE place to earn Hyatt status and just stay for some weeks.
Given the state of the economic cycle US cities are nowhere near $50 outside of Las Vegas. In the (hot) summer months the rates still feature low prices in Las Vegas but keep in mind the enormous resort fees of $30+ per night.
Picture courtesy of iconvacations.com.
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About the author: Torsten is a serial entrepreneur who started almost a dozen ventures on four continents. Torsten's love for travel has brought him to 130+ countries and travel with most of the world's airlines. You can reach Torsten at [email protected]
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