Rooms in hotels at 2003 rates

Hit by 26/11 terror attacks, economic slowdown and swine flu, room tariffs across city hotels have plummeted 42 per cent in the last year, finds surveyTravel junkies visiting Mumbai have a reason to rejoice, according to a recent survey conducted by http://www.hotel.com/, a global hotel accommodation provider.u00a0The survey says the 42 per cent cut in room tariffs over the last year brings it to the same rates as 2003 with the average room tariff per night at Rs 7,846.Steep fallThe site says factors like theu00a0 slowdown, the terror attacks, and the swine flu scare are responsible for the fall in rates that stood at an average of Rs 13,429 a year ago. Globally, Mumbai stands second only to Moscow where the rates have fallen by 52 per cent in the corresponding period. Delhi is twelfth in the list of 18 top citiesu00a0 that has seen a drop in rates.Rishi Puri, group general manager, Ramada Powai Hotel, said, Room tariffs in Mumbai have fallen by at least 40 per cent though it is not as bad in other cities. However, we are hopeful that the situation will improve in the weeks ahead.While hotels sweat it out, customers are understandably pleased. Manish Agarwal (27), a businessman executive and frequent traveller from Pune, said, I chose to schedule our meetings in Delhi instead of Mumbai because it's cheaper there. The fall in room rates has come as a boon for people like me.No hikeHoteliers S P Jain, president of the Hotel and Restaurant Association, Western India, said, Mumbai hotels are doing better than those in many other cities. The hotel industry has been facing huge losses since 26/11. The situation only worsened due to the downturn and the swine flu scare.u00a0In view of the situation, we have decided to not to hike tariffs though we are in the middle of the peak season.Johan Svanstrom, the managing director of hotels.com, Asia Pacific, described the fall in tariffs the most significant movement in prices in the last five years. This is a year of dramatic price reductions, explained Svanstrom. The fall in prices in Mumbai and New Delhi make the cities more attractive to international visitors and to inbound travellers, Svanstorm explained.Good newsIqbal Mulla, treasurer, Travel Agents Association Of India, said he expected customers to welcome the fall in room tariffs.Mumbai's hotels are considered the most expensive globally. An average room would that cost Rs 35,000, last year is now available for Rs 12,000 to Rs 18,000, added Mulla.Rs 13,429The average rate of a hotel room per night in the first half of 2008 in MumbaiRs 7,846The average rate of a hotel room in the city nowWorld's most expensive hotel roomsu00a0City Average price per room per night Jan-June 2009 ($US) Average price per room per night Jan-June 2008 ($US) Percent changeu00a0u00a0Capri $279u00a0 $250u00a0 12%u00a0 Abu Dhabi $273u00a0 $299u00a0 -9%u00a0 Geneva $243u00a0 $335u00a0 -28%u00a0 Moscow $218u00a0 $452u00a0 -52%u00a0 Venice $218u00a0 $274u00a0 -20%u00a0 Cannes $208u00a0 $261u00a0 -20%u00a0 New York $196u00a0 $281u00a0 -30%u00a0 Dubrovnik $193u00a0 $243u00a0 -20%u00a0 Dubai $192u00a0 $259u00a0 -26%u00a0 Paris $187u00a0 $229u00a0 -18%Tale of three citiesFall in room tariffs in last six months in Mumbai, Delhi and Moscow City Average price per room per night Jan-June 2008 (Rupees) Average price per room per night Jan-June 2009 (Rupees)u00a0 Percentageu00a0change Moscow 21,757 10,493 52% Mumbai 13,429 7,846 42% Delhi 9,290 6,401 31%