New York City Hotel Rates Soar to Record Heights as Holiday Travel Nears
Hotels charged an average of $417 per night in September, the highest monthly rate ever for the city. “I don’t understand how normal people can go there,” one tourist said.
New York City has never been a budget destination, but many travelers are experiencing sticker shock over the high cost of a night at a hotel, especially as the peak holiday tourism season begins.
The average price of a hotel room in New York City in September climbed to $417, the highest monthly rate ever recorded in the city by CoStar, a real estate analytics company, since it started tracking the data in 1987.
In New York, room rates can vary wildly across hotel classes, and it is not uncommon for high-end properties in Manhattan to charge more than $1,000 a night. A king room on a Friday night in November at the St. Regis New York costs $1,854, after fees and taxes.
But hotel rates overall have climbed as tourists are once again filling the city’s sidewalks, reviving an economic pillar that ground to a halt during the coronavirus pandemic.
