Strengthening Canadian Dollar Drives Hotel Rate Drops and Great Deals
Hotwire.com®, a leading discount travel site, today announced the results of the May 2010 Hotwire® Canadian Hotel Rate Report, which features the top five cities in Canada where hotel rates have dropped the most. When combined with Hotwire's already discounted prices, the Hotel Rate Report helps guide customers to the destinations that will maximize their travel dollars. Edmonton tops this month's rate report with an 11 percent drop, and after a six-month absence, Vancouver makes a welcome return with a 3 percent drop.
Hotel prices across Canada continue to fall as many popular destinations are still seeing declines in leisure travel that traditionally fills up rooms this time of year. This trend is being driven by the strength of the Canadian dollar against both the U.S. dollar and Euro. Travelers appear to be choosing destinations where they can get more native currency in exchange for their money, causing hoteliers in cities like Halifax and Vancouver to drop prices to compensate.
In addition to the exchange rate effects, cities like Edmonton and Ottawa are not seeing a return in business travelers, which is causing hotels to slash rates even further in those areas. So for travelers looking to stay closer to home this summer, they are bound to find a destination that suits their budget and taste, whether it is scenic Niagara Falls, history-rich Halifax or the country's capital, Ottawa.
Hotwire is able to find great deals because it works with hotels, airlines and car rental companies to fill unsold inventory. This means customers will find incredibly low deals on Hotwire, especially in cities like those on the Hotel Rate Report where prices are unseasonably low.
When compared to the same time last year, the top five hotel price reductions for May 2010 include:
"Leisure destinations across Canada are offering some great deals this month on Hotwire," said Clem Bason, President of the Hotwire Group. "As long as the Canadian dollar stays strong against international currencies, travelers should continue to see low hotel prices throughout the summer."
About the Hotwire Hotel Rate Report
The Hotwire Hotel Rate Report will run results during the first week of each month. Results are calculated by looking at Hotwire stay dates for select regions in the current month, and comparing prices in the current month against Hotwire prices in the same month in the prior year. Prices are compared within the same star rating categories for consistency, and the percent change in price for each region is generated as an overall average of the changes in those categories. The prices in the chart above are examples for a particular star rating category within that market, and actual prices may be higher or lower than the example that is provided.
Logos, product and company names mentioned are the property of their respective owners.
