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Hotel rates in Miami and New York skyrocket for New Year's Eve

Currently fewer than 10% of hotels in Miami are still offering rooms for New Year's Eve. On average, these hotels have raised their rates by 185% in response to the limited availability. 40% of hotels in Manhattan are still offering rooms for December 31. On average, however, these hotels are elevating their rates by 167% compared to regular rates. And some hotels are charging over 300% more than they usually do.

MIAMI – Year-end celebrators who are looking for an accommodation in Miami to spend New Year’s Eve will encounter drastically higher rates than usual. Hotels in the popular Florida resort city are raising their rates by up to 491%, according to a new survey from MiamiHotels.org.

Currently fewer than 10% of hotels in Miami are still offering rooms for New Year’s Eve. On average, these hotels have raised their rates by 185% in response to the limited availability. In Miami Beach, the average rate increase is even higher at 249%. And some hotels have hiked their rates by even more than that.

One such example is the Clinton Hotel South Beach, a three-star hotel that is charging $699 for a queen room on December 31. That price tag represents an increase of more than 400% compared to the hotel’s regular rates. The biggest price elevator, though, is the Fashionhouse Hotel, also located in South Beach. A junior room there will cost New Year’s Eve revelers an overnight rate of $999, or almost 500% more than usual.

For the cheapest available double room in Miami Beach, holiday celebrators will currently have to spend close to $400. If they are staying at least three nights, they can find a room for around $300 per night.

In downtown Miami, however, cheaper rooms will not be found. Those seeking more affordable options in which to ring in the New Year will have to look around the Miami airport. There on the city outskirts, a room can still be found for less than $200 on New Year’s Eve.

NYC Hotels increase rates strongly for New Year’s Eve
New Year’s Eve revelers who have their hearts set on seeing the ball drop live in Times Square will be paying significantly more to stay overnight in the Big Apple. Hotels in New York City have raised their rates on available rooms substantially for New Year’s Eve according to the latest survey from NewYorkHotels.org.

Currently, 40% of hotels in Manhattan are still offering rooms for December 31. On average, however, these hotels are elevating their rates by 167% compared to regular rates. And some hotels are charging over 300% more than they usually do.

For the cheapest available room in Manhattan (rated at least 3 stars), overnight guests on New Year’s Eve will currently have to spend around $300. If they stay three nights (December 31 through January 3 or December 30 through January 2), they can find rooms for around $200 per night.

However, compared to New Year’s Eve 2012, hotel rates have increased more moderately. Two years ago at the same time, less than 10% of hotels still had available rooms, and the rate hikes were then significantly higher as a result.

According to Danielle Carter, spokesperson for NewYorkHotels.org, “This significant difference between then and now can partly be explained by the opening up of many new hotels in Manhattan. But essentially it clearly reflects the importance of Airbnb, where thousands of rooms have been booked for New Year’s Eve, taking potential clients away from the hotels.”

Photo caption: Clinton Hotel South Beach.

News Editor - TravelDailyNews Media Network | + Posts

Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.

She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

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