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What are hotel prices doing? It depends who you are

What are hotel prices doing? It depends who you are

Posted on: 11/15/2017 | Author: ATB Financial's Economics + Research Team

The price of a hotel room is one of the biggest ticket items facing travellers and many of us look for a good deal. According to the latest information from Statistics Canada, some travellers in Alberta are seeing room rates rise, while others are seeing them fall.

The graph below shows the price index for travel accommodation in our province over the last 10 years. The thin lines show the monthly index, which jumps up and down regularly with the travel seasons. The heavy line shows the 12-month moving average and gives a better idea of how prices have trended over time.

Business travellers in Alberta are enjoying lower prices than they were three years ago. The 12-month moving average index is down about seven per cent compared to late 2014. As the province was pulled into the recession, energy sector staff were required to travel less in Alberta. And in the case of smaller towns and cities, the hotels and motels were seeing less demand from workers on the rigs or in oilfield services. As a result, prices have dropped.

Leisure travellers, however, have seen their accommodation prices jump. After a slight dip in early 2015, prices have started to climb again. The price index for leisure travellers is now at a record high, and up about five per cent from even a year ago.

Travellers accomodation index, graph

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