Luxury hotel rates down in Europe, up in Caribbean

Luxury rooms now average $395 a night in Caribbean, according to report

An average night in a luxury room in the Caribbean is $395, 17% more than it was in 2010. A new report by Smith Travel Research shows that the Caribbean is the only region in the world where luxury rates are so much higher in 2011. There, the number of rooms scheduled to open in the coming four years rose by nearly 9% in July to 17,200. Those already in the construction phase rose by nearly 17%.
Rates elsewhere in the world are still struggling to recover their 2008 peak. In Europe, by contrast rates are still 4 percent down on 2008, at $390 on average in 2011. In the Americas they’re 18% down on 2008 at $236; in AsiaPacific they’re 2% down at $229; in the Middle East and Africa they remain unchanged at $289.
USA Today
[pictured: Holiday Inn Resort Monetgo Bay; courtesy IHG]