Today,hotels.com,the leading provider of lodging worldwide, released its biannualHotel Price Index (HPI), revealing a 3 percent global price increase and a gradual recovery despite major natural catastrophes and world events affecting travel during the first half of the year. Room rates are still lower than their peak in mid-2007, indicating to travelers thatgood deals and valueare within reach for consumers.

The hotels.com Hotel Price Index (HPI)is a regular survey of hotel prices in major city destinations across the world. TheHPIis based on bookings made on hotels.com and prices shown are those actually paid by customers (rather than advertised rates) for the first half of 2011. The report largely compares prices paid in 2010 with prices paid in 2011. The key findings of the Hotel Price Index:

Influential Factors in American Travel atHome and Abroad

Americans continued to see a weak U.S. dollar compared to other currencies, meaning travel outside the country’s borders was more costly than anticipated. Americans paid an increase of 11 percent at European hotels in 2011 compared to 2010; a 5 percent increase in North America; a 4 percent increase in the Caribbean; and a 1 percent increase in Asia. In addition to the weak currency, 2011 was a year of major natural disasters which greatly affected travel, including major flooding in Nashville, and devastating tornadoes that caused major damage to Minneapolis andJoplin, Missouri. Despite the natural disaster, Joplin’s year-over-year average daily rate increased 3 percent, but time will tell if that will remain constant for the rest of the year. Joplin is the tenth least expensive city in the U.S. according to this year’sHPI.

After the catastrophic earthquake and tsunami that struck Japan in March, travel to the country dropped, even in capital cityTokyo, located 250 miles south of the disaster.Reykjavik, IcelandandChristchurch, New Zealandwere also subject to the extraordinary forces of Mother Nature. Massive volcanic ash clouds in Reykjavik and the aftermath of two 6.0+ magnitude earthquakes in Christchurch may have been factors in the 44 percent and 38 percent price rises in each city, respectively. These rises counter the typical trend of lower prices after a natural disaster.

Where are Americans Traveling Internationally?
There has been little change when it comes to the top threemost frequented international destinationstraveled to by Americans.London,ParisandRomeremain the most popular despite an 11 percent increase in the average daily rate for Americans paying for a hotel in Europe. Our neighbors to the North,TorontoandVancouver, came in fourth and fifth place. Aside from the top three, European travel from the U.S. continues to centralize aroundMadrid,Amsterdam,Dublin,Florence, andVenice. Each city moved up one to three spots in the hearts of American tourists.

FromMonte Carlo, MonacotoVieques, Puerto Rico, the top ten most expensive destinations’ daily rates rose, on average, 22 percent year-over-year. Each city on the list cost American travelers more than $350 dollars a night. The city that topped the list,Bora Bora(located in the French Polynesian islands), costs more than double that amount, claiming over $800 a night from American vacationers.

Which Regions Are Growing In Popularity for Americans?
TheHPIreveals that Asia is the most up-and-coming region for American travelers. Even though the region experienced a minimal room rate hike of 1 percent, Asian cities have been moving up on the list of the top 50 cities for American travelers.

Beijingmoved up 12 spots from 2010 to #20.Bangkok(up 16 spots to #17) andSeoul(up 15 spots to #30) also rapidly gained popularity among U.S. travelers this year.

Hong Kongranked as the eighth most visited city by Americans in 2011, while other Asian cities includingBangkok(17),Shanghai(18),Beijing(20),Dubai(21) andSingapore(24) ranked in the top 25 most visited international destinations by Americans.

On the other side of the world, Americans paid an average daily rate of $207 in the Caribbean after a four percent increase. Latin American hotel rooms rose two percent in 2011 with rooms costing an average daily rate of $153.

Who are the World’s Biggest Spenders?
Japanesetravelers are the new top spenders when traveling abroad, paying an average of $176 per room when they head overseas. Second in line are travelers fromSwitzerlandandAustralia, who respectively spend $175 and $172 in other countries. While U.S. travelers have dropped into fourth place, spending an average of $171 per night on hotels overseas, this is still an increase from last year’s average of $160 per night. Americans are morethriftywhen booking hotels in the U.S., spending $119 per night. The biggest domestic spenders are fromSwitzerland, paying an average of $220 in their local hotels. Travelers fromIndiacontinue to be the lowest domestic spenders, with an average of $92 per room spent on hotels within their borders.

“Despite the gradual upward trend in hotel prices compared to recent bargain basement rates, there are still plenty of great deals for consumers,” said Victor Owens, vice president of marketing North America for hotels.com. “Sales are popping up constantly, especially last-minute sales on desirable locations. There are plenty of cities that still have reduced average hotel rates. Even popular tourist destinations offer deals during the off-peak season.”