Hotel Rates Rocket in February and Set a New Record

Price-inflation continues to accelerate across the country.

Hotel rates in North America jumped more than 7% for both business and leisure travelers in February, marking the biggest year-over-year increase on record, according to just released data.

Hotel rates for business travelers jumped 7.1% in February, compared with the same month in 2011, and increased 7.3% for leisure travelers for the same period, according to data reported by Pegasus Solutions.