Hotwire.com, a discount travel site, released on Oct. 24 the October 2011 Hotwire Travel Savings Indicator, which features the top five cities in North America where hotel, air and auto rental rates have dropped the most. Using pricing research to cover the three most popular travel products, the report helps guide travelers to maximize their travel dollars each month.
"Many top markets are seeing higher prices right now, but there are still several cities that continue to offer deep discounts in shoulder season,” said Clem Bason, president of the Hotwire Group. “Popular local destinations in both Tennessee and Idaho are offering some great savings to travelers this month. Meanwhile, Hawaii is still going strong as a hot market for any visitor looking to enjoy some sun and sand before the holiday season hits."
Car Rental Price Drops
Rental car companies should complete their normal seasonal "de-fleeting" this month, which means prices should begin to stabilize soon. However, plenty of great destinations continue to offer fantastic savings.
The top five cities this month prove that deep discounts can still be found in top markets across the U.S. — all for under $30 a day. Taking first and second place again, prices in Honolulu are down 59 percent while Washington D.C. rates are down 57 percent.
When compared to the same time last year, the top five car rental price reductions for October 2011 include:
Hotel Price Drops
Rochester, N.Y., claims first place this month for the second time in a row with a 12 percent decrease. With more hotels offering their inventory online in recent months, competition in the local area continues to drive prices down, especially among the budget-friendly properties.
Following a similar trend, and making its Travel Savings Indicator debut is Chattanooga, Tenn. With a 7 percent decrease, Chattanooga has several higher star rating hotels offering online deals and pricing competitively, which drives overall rates down. Tying for second place is Boise, Idaho, where local airport hotels are aggressively posting low rates, which encourages other hotels in the area to also drop prices.
Appearing on the list for the third month in a row with a 6 percent decrease is Santa Fe, N.M., where hotel prices continue to drop due to more hotels turning to discount channels to help fill their unsold rooms.
Rounding out the list is Williamsburg, Va., which drops from second place to fifth this month with a 5 percent decrease. Hotels in the area continue to experience softer demand compared to 2010, and many 3-star hotels are offering great deals to attract business and leisure travelers.
When compared to the same time last year, the top five hotel price reductions for October 2011 include:
Air Price Drops
Knoxville, Tenn., comes in at first place on the air price drop list this month with an 11 percent decrease. Knoxville is a fairly small airport with mostly regional jets, so fluctuations in volume can produce significant pricing shifts.
Arizona and Hawaii also continue to see lower rates, with each experiencing a 3 percent price drop in Phoenix and Kahului, respectively. Boise, Idaho crosses over from the hotel list to the air list with a 1 percent decrease this month and Chicago, Ill., rounds out the top five cities, appearing with a 1 percent decrease in air prices as well.
When compared to the same time last year, the top five airfare price reductions for October 2011 include:
About the Hotwire Travel Savings Indicator
The Hotwire Travel Savings Indicator runs results during the second week of each month. Results are calculated by looking at Hotwire booking data 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 categories (e.g., star rating, class of car) for consistency, and the percent change in price for each region is generated as an overall average of the changes in those categories.
The hotel prices in the charts above are examples for a particular “Hot Rate” deal within that market. The airfare and car rental prices are average prices based on bookings across all car and seat classes. Actual prices may be higher or lower than the examples that are provided.