Why are NYC hotels so expensive right now?

Tight supply: Hopper's report points out that right now, there are fewer hotel rooms under construction than there were before the pandemic thanks to lockdowns, supply chain snags and rising interest rates. When demand is high and supply is low, prices tend to rise.



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Book something cancelable early, and keep an eye out for a better rate or better hotel as you get closer to your travel dates. Prices do fluctuate by date of stay and by when you book.

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Supply & Demand. Because New York City is a business destination, and business travel picks up after Labor Day. Also because New York City isn't really a summer destination, as it's not a beach or an amusement park, so once the summer tourist season ends, people start coming here instead.

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Hopper's analysis identifies two main factors that account for the sharp rise in hotel prices: High occupancy: As the travel industry rebounds in the aftermath of the COVID-19 pandemic, millions of people are vacationing again. Hopper is expecting high demand for hotel rooms throughout the year.

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Average NYC Hotel Prices Average Two-Star Hotel Prices: The average price per night is $175 (ranges from $150-$250). Average Three-Star Hotel Prices: The average price per night is $225 (ranges from $175-$330). Average Four-Star Hotel Prices: The average price per night is $270 (ranges from $215-$380).

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Yes, last-minute bookings are (usually) better. A 2022 NerdWallet study analyzed more than 2,500 hotel room rates from 2019 through the first half of 2021 and found an average of 13 percent savings for those who booked 15 days in advance as compared to those who booked four months in advance.

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Most travel agencies agree that the cheapest days to book hotels are Fridays and Saturdays. While these are the most expensive days for actually checking in and out, the best hotel rates are on the days when most people are traveling.

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$192 is the average price of the 286 hotels with room service in New York City, New York. The median price for these hotels is $172.

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It turns out that booking in advance is usually the way to go if you want to save money. According to a study by TripAdvisor, the best time to book a hotel is within two months of your travel dates. This is when hotel prices are typically at their lowest.

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Most travel agencies agree that the cheapest days to book hotels are Fridays and Saturdays. While these are the most expensive days for actually checking in and out, the best hotel rates are on the days when most people are traveling.

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Hotels in Manhattan are always expensive. A good hotel can cost from $200 up to $1,500 per night (something like the Park Hyatt New York). At different times of the year, hotels in the area cost about $100-150 in Chinatown, Lower East Side, Harlem.

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If you have a loyalty status with the chain then yes, it's probably cheaper to book directly. Also, sometimes hotel offer discounts to incentivize people to reserve with them in order to avoid paying fees to a 3rd party platform like Booking.com. But the reverse can also happen. So just check both and compare.

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Hotel prices are dynamic, fluctuating based on supply and demand — that means the price you see when you're searching for hotels one day might change the very next, even if the dates of your stay remain the same.

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If you are looking for a last minute deal, it may be cheaper to walk in and ask for any discounts or specials they may have available. On the other hand, if you plan ahead and book your hotel online or over the phone, you can often find great deals that will save you money compared to walking in without a reservation.

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“Throughout the day of check-in, prices keep decreasing,” says Shank. “If there are still these empty rooms by 4 p.m. the day of arrival, the hotel will have a lot of certainty that they are not going to get filled otherwise. That's when they're really willing to put a really, super good deal on it.”

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The best month to book hotels in the US is September. During the month of December, hotel bookings are 6% cheaper on average. The second cheapest month to book a hotel deal is March. Avoid October, as this is the most expensive time to book a hotel stateside.

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The answer is yes, you will find some good food in that price range, you won't starve. Allowing maybe $100 per person per day will get you a nice dinner every night and an occasional sit down lunch too. Adding more to the budget means you can maybe go to a 5 star dinner for a splurge one night too.

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