Yikes! What's happening to New York hotel prices??
Jul 14th, 2006, 03:03 PM
#1
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Yikes! What's happening to New York hotel prices??
I go to New York 4 or 5 times a year. I'm well aware that prices go way up in November & December. But I was just checking for September and hotels that are normally in the low 200s are now showing 400 - 500 per night rates (quickbook as well).
A friend who is going next week experienced the same thing.
Is this a permanent trend?
Jim
A friend who is going next week experienced the same thing.
Is this a permanent trend?
Jim
Jul 14th, 2006, 03:13 PM
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The laws of supply and demand are hitting NYC with a vengance, since many hotel rooms have been converted to coops and condos. Likewise, a lot of new construction is oriented towards sales rather than hostelry.
Jul 14th, 2006, 03:16 PM
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In theory that makes sense, but there were tons of rooms showing as available for the dates I checked.
Perhaps it's the laws of exploiting the perception that the demand exceeds the supply?
Perhaps it's the laws of exploiting the perception that the demand exceeds the supply?
Jul 14th, 2006, 03:38 PM
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Think of a hotel room as being priced in gallons of gas.
That way, a room that was 100 gallons of gas ($150) a few years ago will now cost 100 gallons of gas ($350) and will cost 100 gallons of gas ($700) in a few years.
Of course, your mileage may vary.
That way, a room that was 100 gallons of gas ($150) a few years ago will now cost 100 gallons of gas ($350) and will cost 100 gallons of gas ($700) in a few years.
Of course, your mileage may vary.
Jul 14th, 2006, 04:11 PM
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Another factor is the pitiful state of the dollar vs the euro and the pound. I have noticed many more european visitors around town - and the hotleiers probably plan on this continuing.
And don;t forget that the hotels that are being turned into condos are large ones - with several hundred rooms - not just 50 or 100.
And don;t forget that the hotels that are being turned into condos are large ones - with several hundred rooms - not just 50 or 100.
Jul 14th, 2006, 04:47 PM
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Manhattan has the highest ADR (average daily rate) in the country at $240 per night per room.
Labor Day through New Years Day is peak season and occupancy levels are expected at around 95% which is unheard of in the industry.
September, October, and the first half of November are peak convention and conference months.
New York is host to many city wide conventions in the fall.
Prices probably will not drop except for a random weeknight stay here and there.
Labor Day through New Years Day is peak season and occupancy levels are expected at around 95% which is unheard of in the industry.
September, October, and the first half of November are peak convention and conference months.
New York is host to many city wide conventions in the fall.
Prices probably will not drop except for a random weeknight stay here and there.
Jul 14th, 2006, 05:56 PM
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we went in november '05 and were shocked to find the same thing. we went through Craigslist and got a room that way. have to say it was a lovely room on UES half a block from the park for $165/night, but we did have problems.
try craigslist or VRBO.com and good luck!
try craigslist or VRBO.com and good luck!
Jul 27th, 2006, 05:35 AM
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I am staying at the Herald Square Hotel in August =>
http://www.heraldsquarehotel.com/
Very reasonable priced!!
http://www.heraldsquarehotel.com/
Very reasonable priced!!
