Fall in price of rooms in 2009. According to the most recent “Hotel Price Index” survey carried out by Hotels.com, the famous hotel room reservation site, the average price a night for a room in 94,000 hotels in more than 16,000 destinations in the world fell by 14% in 2009. The prices paid by travellers fell to levels not seen since 2003. There is one consolation, however, the fall slowed down somewhat this year: 16% in the first quarter of 2009 to 7% in fourth quarter. Hotels.com is forecasting a stabilisation of prices in 2010. This deflation is a result of the attempt by hotels to maintain keep hotels full despite a collapse in demand and a continued increase in supply. This was particularly sharp in Latin America (-21%) and in Asia (-16%). These two continents have suffered a staggered effect from the effects of the crisis, although they had resisted very well in 2008. Europe and North America entered recession earlier but have better resisted with respective cuts in prices of -13% and -14% in 2008 and cuts of -6% and -7% in the final quarter. The situation varies considerably in Europe with very marked falls in prices in Poland (-25% in 2008), Ireland (-21%), Norway, Hungary and the Czech Republic (-20% each) and the United Kingdom (-18%), as opposed to better performances in Greece (-9%) and, above all, France (-5%), two major tourist destinations. The most expensive city in 2009 was Monte Carlo (€177 per night on average), followed by Abu Dhabi (€164), Geneva (€163) and Moscow (€152). Price increases in Rio de Janeiro (+12%), which was hauled up to sixth place, whereas the other cities in the “Top 10” all saw their prices fall, particularly New York (5th; -22%; €149). (I.L.)