New York City hotels charged an average of $417 per night in September, the highest monthly rate ever for the city. Many travelers are experiencing sticker shock. “I don’t understand how normal people can go there,” one tourist said. nyti.ms/3ZoNWxo - ThreadSky

nytimes.com • 98 days ago

New York City hotels charged an average of $417 per night in September, the highest monthly rate ever for the city. Many travelers are experiencing sticker shock. “I don’t understand how normal people can go there,” one tourist said. https://nyti.ms/3ZoNWxo

Comments

lucyloulou.bsky.social•98 days ago

It’s like this everyday. Nashville is horrible. Florida the same

karlsteel.bsky.social•98 days ago

At any rate, analysis here is weak, blaming 1) lack of new hotel constructing 2) anti airbnb law 3) unions. Missing pieces.

91% occupancy is good data, but I'm wondering about price fixing.

jefg.bsky.social•98 days ago

The effect of supply on prices is extremely well established and NYC has taken measures to restrict supply. There are hundreds or thousands of hotels - it would be very hard for them to price fix. But if evidence of price fixing emerges, I hope they get prosecuted.

creatureofhobbit.bsky.social•98 days ago

We live near-ish NYC but like to stay overnight occasionally to spend more than one day there. I'm painfully aware of the soaring costs of hotels. Deals used to be possible, but getting a good hotel at a cut rate seems impossible now.

pedrowefo2024.bsky.social•98 days ago

Stay in a Burrough and enjoy NYC more.

fredrikmaroe.bsky.social•98 days ago

Big windfall for the hotel industry after they successfully lobbied to ban AirBnB in the city. They argued it would bring down rents, but one year in, it’s done no such thing.

donblakeney.bsky.social•98 days ago

It does eat into housing supply. Does it have enough of an impact to significantly change rents in one year? Maybe not?

fredrikmaroe.bsky.social•94 days ago

Rents have gone up, so the argument that it would lower rents falls flat.

donblakeney.bsky.social•93 days ago

That's interesting. Do we know how many units it opened back up?

fredrikmaroe.bsky.social•92 days ago

About 22K units were taken off Airbnb in NYC, yet rents increased even more after the STR ban than the year before. https://news.airbnb.com/wp-content/uploads/sites/4/2024/11/Changes-in-Rent-for-High-vs-Low-Concentration-Neighborhoods.png?w=1338

neptuniandemocracy.bsky.social•98 days ago

We can’t ~ glad I’ve had some good visits to remember

corporatecuck.bsky.social•98 days ago

Are the migrants allowed to sub-let?

bobbiebruntjen.bsky.social•98 days ago

That's why I wouldn't live in New York

pinklipgloss.bsky.social•98 days ago

And tightened their Airbnb ban at the same time.

nanardlemotard.bsky.social•98 days ago

Rbnb was not so bad finally.

razorcliff.bsky.social•98 days ago

Wow

joshuaseth73.bsky.social•98 days ago

1) the special permit to build new hotels.

https://www.nyc.gov/site/planning/plans/citywide-hotel/citywide-hotel-overview.page

joshuaseth73.bsky.social•98 days ago

2. Local law 18 of 2023

https://www.nyc.gov/site/specialenforcement/registration-law/registration.page#:~:text=Starting%20September%205%2C%202023%2C%20OSE's,platforms%20stop%20processing%20unverified%20transactions.

jefg.bsky.social•98 days ago

This is exactly it, combined with migrants occupying like 10% of hotel rooms (nothing against migrants in general but they're not immune to causing economic effects). NYC cracked down on options and stifled competition and prices rose - very predictable. And I'd bet Big Hotel lobbied for these bills

mzrockmon.bsky.social•98 days ago

If migrants are occupying 10% of rooms, as you contend, which drives up the cost, how long do they have to be in the room to affect the bottom line? If they are there long term, guaranteed revenue should decrease average cost. I am not contradicting, just curious. Thanks!

jefg.bsky.social•97 days ago

For fixed supply, more demand normally drives up prices at that particular moment. And the hotels would make bigger profits which would _normally_ incentivize more rooms to be built & drive down prices but in NYC for a variety of reasons that doesn't really happen

mzrockmon.bsky.social•97 days ago

Makes sense. NY has to build up. That is not cheap Thank you.

ericfleming.bsky.social•98 days ago

I’ve never seen more tourists in NYC, ever. And they still don’t wait for people to exit the subway car before getting in…

whpshw.bsky.social•97 days ago

If you're visiting NYC and insist on a Manhattan hotel, I have zero sympathy about costs. Plenty of safe, convenient & culturally vibrant outer-borough spots under $150 if ppl did basic research & cared about what truly makes the city great. (It's not just Manhattan.)

radiodallas.bsky.social•98 days ago

But the price of eggs are a deal breaker....

fullmetalrainman.bsky.social•98 days ago

Who are these travelers?

rsk-1m.bsky.social•98 days ago

If you book in advance it's always cheaper. EMPIRE Hotel is my preferred choice just because of the location and to PJ Clarkes. Surely the busiest time is over Christmas and New Year? I think you'll find Mandarin Oriental is $1,800 per night for a double room.

orangenblue.bsky.social•98 days ago

Getting rid of Airbnb was a big mistake. With. I competition the hotels are insane

hauntedtypewriter.bsky.social•97 days ago

Kamala will fight price gouging... oh wait, nevermind. She lost.

tommyserio.bsky.social•98 days ago

how can you look at this and say democrats can govern

threeapp.bsky.social•98 days ago

Tourists still make it to Venice where you can’t even buy an espresso for that amount.

lunarplanting.bsky.social•98 days ago

Absolutely ludicrous and should be considered unacceptable.

buhlee.bsky.social•98 days ago

There are flyover states and drive through cities…

n25wow.bsky.social•98 days ago

There are plenty of nearby places/cities to stay in, and you can get there with a quick train ride downtown.

heliosalema.bsky.social•98 days ago

Jersey City and Hoboken lack sufficient hotels to meet demand, and prices are becoming quite expensive

jigsays.bsky.social•98 days ago

NYC & Company did such a good job they had to change their name to @nyctourism.bsky.social

tellitasitis.bsky.social•98 days ago

How can NYC stay good with TOURISTS. NYC is dangerous. NYC Times Square hasn’t been this dangerous since the 70’s when NYC used to be called, the Lost City. It was actually lost with violence, prostitution. NYC makes its money from Tourism and the filthy rich that occupy it. NYC needs be protected.

vesperaegis.bsky.social•98 days ago

Aint seen nothing yet given the incoming Trump administration. Without question a neuron-free decision to vote because you're upset about prices only to vote for a guy who has literally promised to increase those prices. Too bad New Yorkers also have to pay for that nationally poor decision.

bcats99.bsky.social•98 days ago

And they will be full! The Biden economy is strong.

goodbyepopulism.bsky.social•98 days ago

I just spent 10 days in a hotel in Manhattan and the price was crazy.

Not to mention that it was the only hotel that was half the average.
💸💸💸

duckykrup.bsky.social•98 days ago

How much of that average is skewed by the rooms that are over $1200 a night?

erikmace.com•98 days ago

I had the same thought. The article said “average” but I’m wondering why they didn’t do a median.

duckykrup.bsky.social•98 days ago

Bc they never do! Also you can visit at other times besides December - yes, hotel prices are expensive bc everyone is trying to go then!

duckykrup.bsky.social•98 days ago

Imagine writing about how expensive hotels in Venice are during Carnevale

smb6789.bsky.social•98 days ago

People like to bitch about inflation but don't change spending especially on travel and leisure.
One of the reasons why inflation has been so sticky

tomadzo.bsky.social•98 days ago

That why I stay on LI and take the LIRR back to my hotel

margotsibley25.bsky.social•98 days ago

What is the migrant rate?

rogernairn.bsky.social•98 days ago

Because they have the money to spend. Supply and demand.

chrismcg.bsky.social•98 days ago

Spent two weeks in New York from late September. I’m going be controversial. It’s overrated. The smell of urine and weed absolutely everywhere you walk, homelessness, expensive, dirty, tipping culture. It has an awful lot to see and do and much that is great but it really isn’t a patch on London.

chrisgblack.bsky.social•97 days ago

Don't worry the skyrocketing USD and general unease about safety in the US will keep Europeans and others away. Also expect a backlash against buying anything American including vacations once your new president is done antagonizing Europe, Canada, China etc.

dinodemitris.bsky.social•98 days ago

Yet they did, but of course there is an affordability crisis, can buy eggs cause I went to ny.

nachonet.bsky.social•98 days ago

Boutique hotels or Red Roof Inn?

sk8maven.bsky.social•97 days ago

Spilling over into Westchester Co. as well. Had to go there for a family funeral recently; not many rooms available and $$$

loobsters.bsky.social•98 days ago

It’s just insane - greed - the rooms are literally 8x8 too

mzrockmon.bsky.social•98 days ago

The gap between the rich and the poor continues to widen. The middle class will soon be a thing of the past, like good rap music.

mfiq45pos.bsky.social•98 days ago

Here is simple fix. Do not pay stay home!

philsustainability.bsky.social•98 days ago

Legalize Airbnb, or at least make listing a couch on Airbnb very easy

donblakeney.bsky.social•98 days ago

The latter makes sense.

angryyethopeful24.bsky.social•98 days ago

This is not even slightly true. Just checked https://booking.com (where I book all my hotels-no they don’t pay me). I can get any number of hotels for $650-750 for THREE nights mid December. I will be staying in downtown Brooklyn over Thanksgiving. I paid $645, incl tax&fees. Pls no knee jerk responses.

happyiness.bsky.social•98 days ago

We done unfortunately

pretefunkera.bsky.social•98 days ago

But muh eggs!!!!

jackkratzert.bsky.social•98 days ago

So the MAGAts are blaming Biden and Pelosi?

jasind.bsky.social•98 days ago

That’s why you stay in Airbnb properties.

creatureofhobbit.bsky.social•98 days ago

And Airbnb drives up rents in cities. So there's that.

jonhuffman.bsky.social•98 days ago

That is getting harder to do: https://www.nytimes.com/2023/09/05/nyregion/airbnb-regulations-nyc-housing.html

himynameisaaron.bsky.social•98 days ago

They banned Airbnb this year lol this raise is probably due to new found monopoly and inflation

donblakeney.bsky.social•98 days ago

It's a tradeoff with housing for locals and crash pads for tourists. I am on the side of building more actual hotels that don't displace residents.

dunkeyman.bsky.social•98 days ago

It's affordable if you have people to split the bill with

athanatic.bsky.social•98 days ago

We used to stay in student hotels in the winter with no AC in the summer with a toilet down the hall in the early 1990s and that was about $85 a night a few blocks from TKTS.

bobbuddyfoster.bsky.social•98 days ago

Is there a Dollar Inn around somewhere??

heard39.bsky.social•98 days ago

I’m from NYC and I love it here.

contessa150.bsky.social•98 days ago

I wouldn't pay half that to visit there. Very humid. It's always a bad hair day in NYC.

kanagucdm.bsky.social•98 days ago

These hotels are for the people who can afford whatever the price.

boy-rat.bsky.social•98 days ago

I don’t claim to be in-touch with prices but I’ve not seen the prices rise much and just looked up the price for my favorite NY hotel (Millennium Downtown) which seems about the same price as it was last year

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