Hotel Price Categories for Woodridge, Illinois

The hotels on the Rate Table and the Interactive Map are grouped into color coded price categories based on their average room rates.  The average rate for each hotel is calculated from the average of it's high and low room rates observed over a period of one year.

The latest hotel rate analysis for Woodridge, IL was performed on April 7, 2009.  The analysis is based on the average room rates for 460 hotels within Woodridge, IL and adjacent towns forming the Chicago, IL Metropolitan Statistical Area.  The current classification breaks based on this analysis are as follows:

See Hotel Rate Analysis and Classification Details below for a detailed explanation of the classification price breaks.

Automated Rate Analysis for Woodridge, Illinois Hotels

          Info   Rate History   Map

Rate Analysis	Low	High
Running Average Rates :	$	$
Observed Rates :	$	$

Hotel Rate Analysis and Classification Details

The April 7, 2009 rate analysis for Woodridge, Illinois hotels is based on the average rates of 460 hotels within Woodridge, IL and adjacent towns forming the Chicago, IL Metropolitan Statistical Area.  The average rate for each hotel is calculated from the average of it's high and low room rates observed over a period of one year.  The rates range between the following values:

Lowest Average Room Rate:  $0 - Hyatt Place Chicago Lombard
Highest Average Room Rate:  $401 - Hard Rock Hotel Chicago

The graph on the right shows the typical shape of a room rate distribution for a metropolitan area.  The colored areas depict the price breaks used to classify the hotels.  Rates greater than two standard deviations above the mean for all values are considered high end outliners and are removed from the price break calculations.

For the April 7, 2009 analysis, the resulting mean room rate for Chicago, IL MSA hotels is $148 and the standard deviation is $65.

Hotels with average rates greater than one standard deviation above the mean are categorized as deluxe.  One standard deviation above the mean is $214, so Woodridge hotels with an average rate higher than $214 are classified as deluxe hotels ( magenta ) on the map.

Hotels with average rates falling in the lower half of the range below the mean are categorized as budget.  The rate halfway between the low rate and the mean rate is $74, so Woodridge hotels with an average rate lower than $74 are classified as budget hotels (green ) on the map.

Everything in between is categorized as moderate priced hotels, so Woodridge hotels with average room rates greater the $74 and less that $214 are classified as moderate priced hotels ( cyan ) on the map.