Hotel prices in major cities, including Mumbai,Delhi and Chennai, fell in the first half of this year even as destinations like Goa, Kochi and Bangalore saw a hike in rates, according to a report.
Of the 10 major destinations, Chennai saw the sharpest fall in prices by losing eight per cent to an average of Rs 5,861 during the first half of this year compared to Rs 6,353 in the same period in 2012, says the latest Hotel Price Index (HPI) report by Hotels.com.
Pune was the second major destination that saw a decline in prices by five per cent to Rs 5,383, compared to Rs 5,650 last year, mainly due to more supply over demand.
Both in Delhi and Jaipur, prices fell by by four per cent each.
Hotel prices in Delhi declined to Rs 6,511 in the first half of this year compared to Rs 6,797 in the comparable period 2012, the report said.
In Jaipur the prices went down to Rs 4,646 in H1 of 2013, compared to Rs 4,839 in same period in 2012.
Kolkata saw a decline of three per cent during the period under review at Rs 6,269.
Mumbai and Hyderabad witnessed a decline of two per cent each to Rs 7,971 and Rs 5,454, respectively.
However, destinations like Goa, Kochi and Bangalore noticed a rise in hotel prices, the report said.
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