Hotel rates in NYC skyrocket for New Year’s
Those planning to stay in New York City for New Year’s Eve next week will spend a lot more than they might expect. A NewYorkHotels.org survey found that NYC hotel rates have skyrocketed.
About a third of hotels in Manhattan still have available rooms for Dec. 31. On average, these hotels are charging 297% more for New Year’s Eve stays than they normally charge. Certain hotels around Times Square have hiked their rates up even more, by more than 400%.
Currently, the most affordable room in a 3-star hotel in Manhattan is going for $280 for a New Year’s Eve booking. Rates start at an even higher price in Brooklyn.
Still, Danielle Carter, of NewYorkHotels.org, says, “Hotel rates in Manhattan are about 10-15% more affordable than they were New Year’s Eve 2015, when rates reached their historical high. That might be explained by the rising number of vacation rentals available on Airbnb and similar websites.”
Rate increases for the holiday are more palatable in Long Island City, where rooms are available for around $200 on New Year’s Eve. Airport hotels are even more affordable, with hotels near LaGuardia and JFK charging around $150 for their most affordable room.
The following table shows hotel rates in NYC and the 10 hotels in New York City with the highest rate increases for New Year’s Eve 2019. Regular rates reflect the price for the same room a week later.
| Name of Hotel | Room Type | Rate Dec 31 | Increase |
|---|---|---|---|
| Hampton Inn Times Square South | Standard Double | $729 | +484% |
| AC Hotel Times Square | Queen Room | $849 | +439% |
| Hilton Garden Inn Times Square | Queen Room | $799 | +431% |
| TownePlace Suites by Marriott | Studio | $812 | +421% |
| Fairfield Inn & Suites Central Park | Standard Room | $728 | +411% |
| Hilton Garden Inn Chelsea | King Room | $699 | +402% |
| Hilton Times Square | King Room | $699 | +397% |
| Paramount Times Square | Double Classic | $491 | +391% |
