If you’re planning to stay in New York City for New Year’s Eve, you may have to spend a lot more for your hotel room than expected. According to a survey conducted by NewYorkHotels.org, hotel rates are skyrocketing in the Big Apple.
About 30% of hotels in Manhattan still offer available rooms on Dec. 31. On average, these hotels are charging 297% more for New Year’s Eve stays than they charge on an average basis. Some hotels around Times Square are even hiking their rates up by more than 400%.
One example is the AC Hotel by Marriott, which charges $849 for a queen room on Dec. 31, an increase of 439%. Similarly, at the Hampton Inn Manhattan/Times Square South, travelers will spend $729 for a double room, almost 500% more than they would on an average day in January.
For the cheapest available 3-star hotel in Manhattan, you will currently have to spend $280 for a room on Dec. 31, or about $600 if you book three nights. In certain popular areas in Brooklyn, such as Williamsburg and Park Slope, rates are even higher.
However, according to Danielle Carter from NewYorkHotels.org, “Hotel rates in Manhattan are about 10-15% lower compared to New Year's Eve 2015, when they reached their historical high. That might be explained by the rising number of vacation rentals available on Airbnb and similar websites."
Rate increases are more moderate in Long Island City, where rooms are available for around $200 on New Year’s Eve. Even more affordable are the areas near JFK and LaGuardia Airport, where rooms can still be found from around $150.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
