NEW YORK CITY-By the time the ball drops in Times Square, New York City will be home to over 90,000 hotel rooms. This marks a 24% increase, according to the City’s tourism arm, NYC & Co. Still, though, revelers hoping to score a room for New Year’s Eve are likely to pay a hefty price.

That’s because some New York City hotels—even in the boroughs—are charging guests sky-high rates for the big night. In fact, a NewYorkHotels.org survey found rates inflated by as much as 700% for a room New Year’s Eve.

The survey, conducted Wednesday, found that hotel rooms are still available around the city for those willing to pay the price. Particularly expensive are the newly hot Financial District and the area surrounding Central Park. The survey found that those wishing to stay at the Excelsior, for instance, at 41 W. 81st St., may pay up to $1,332 for a room regularly priced at $199.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.