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A new report from Hotels.ca reveals hotel rates around the world are the lowest they've been in five years.
The Canadian Hotels Price Index shows the average price of a hotel room in Canada and around the world fell by 17% in the first six months of 2009.
"The Hotel Price Index demonstrates that for savvy Canadian travellers who pick the right destinations, there are some great bargains to be found," said David Roche, President of hotels.com worldwide.
"For those who can, there has never been a better time to travel with hotel prices at their lowest level in five years."
Canadians paid 27% less on hotel rooms in the first half of 2009 than they paid during the same period in 2008.
Savings are expected to continue through the fall season. Clem Bason, president of Hotwire.com, says fall is a great time to get a bargain trip. With many consumers back at work and business travel financially unable to fill the gap, Bason predicts the decline in travel demand will be severe, and prices will continue to drop.
The Canadian Hotels Price Index also revealed Whistler experienced the nation's steepest decline in room rates during the first half of 2009 with a 27% drop compared to the same period in 2008. Jasper and Collingwood followed with a 22% and 15% decrease in average room rates respectively.
For Canadians eager to discover locations closer to home, Toronto topped the list of favourite domestic destinations, followed by Montreal and Vancouver.
-- NICOLE FEENSTRA IS CANOE.CA'S TRAVEL EDITOR