The latest Hotels.com Hotel Price Index found that the average price of a hotel room worldwide declined 12% in December compared with the same month the previous year. "Room rates dropped significantly in the final three months of last year as hoteliers around the world cut prices to try to fill their rooms," said David Roche, president of Hotels.com Worldwide. "While last autumn, North America was the only continent to see the average room price fall, the latest Hotel Price Index shows the economic downturn is now affecting hotel prices on all continents."

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