Hotels in New York City have raised their rates on available rooms substantially 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."
For the full results of the survey, check http://www.newyorkhotels.org/press/newyearseve-2014.html