Travellers planning a voyage to Latin America may have to dig a little deeper as new figures show that the average hotel rate spiked five percent in the last year.
In the latest edition of the Hotel Price Index by Hotels.com, analysts found that the average price of a hotel room around the world rose 3 percent in 2013, marking the fourth consecutive year that rates have increased.
Where this trend is strongest, meanwhile, is Latin America, where prices registered a 5 percent spike, the report notes.
The World Cup games, set to kick off in Brazil in June, are also likely to drive up overall prices for 2014.
Meanwhile, Asia-bound travellers may be heartened to know that average rates in Asia fell by 2 percent, in part due to the depreciation of the yen, rupee and rupiah, analysts note.
The region is also home to some of the world's best value hotel accommodations.
Europe and the Middle East recorded a 2 percent spike.
The Hotel Price Index is compiled by looking at the real prices paid by hotel guests around the world.