Hotel prices around the world are increasing, so prepare to pay more for your next holiday.
In the first half of 2014, overall world hotel prices increased by 4%, according to Hotels.com, which sells hotel rooms for 325,000 hotels around the world.
The booking website regularly publishes a report called the Hotel Price Index, which informs travelers about changes in room rates around the world.
Travelers in the US can expect to pay about $137 per night for a hotel room, which is 5% more than last year.
Some countries experienced an even larger increase in hotel prices. Room rates in Monaco increased 30%, while the rates in Bermuda increased 25%.
Large increases of more than 10% were also reported in Aruba, Kuwait, Mozambique, and Switzerland.
This is bad news for budget minded travelers, but fortunately, prices haven’t increased everywhere. Some Latin American cities, like Sao Paolo, Panama City, and Bogota, are cheaper than they were last year.
How will this price increase affect you?
Will you change your travel plans, or will you continue as normal?