New York City Hotel Prices Increase Dramatically

If you are heading to New York City, open your wallet as hotel prices are exploding. We have a post of some great properties that below $250 a night here.

Hotel prices set wallet-busting records in New York City in 2005 after a long, slow recovery from the 2001 terrorist attacks.

The average daily price of a room in the city hit $292 in November, according to the hospitality industry analysis firm PKF Consulting. Figures for December weren’t yet available, but the city is a lock to break its previous record yearlong average of $237 per night, set in 2000.

Prices were high in every corner of town, from the noisy motels jammed into industrial neighborhoods near Kennedy Airport to the palaces near Central Park.

The Days Inn Brooklyn for instance sits on a charmless block in a working-class neighborhood 30 minutes by subway from the nearest tourist spot in Manhattan. Security glass encloses the front desk. Breakfast is packaged commercial pastry, served from a rack in a closet-sized lobby. The clean but drab rooms overlook train tracks.  Everything about the place says budget travel, except the price. On New Year’s Eve, rooms are going for $229 per night.

At the posh Mandarin Oriental, which opened in the new Time Warner building overlooking Central Park two years ago, the base rate for a room will rise to $725 in 2006. On opening night, the same quarters could be had for $595. USATODAY.com.

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