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NYC: “Best hotel deals in a decade”


Flood of rooms brings lower prices for New York
A dramatic rise in supply is depressing hotel rates in New York City, helping to boost projected visitor numbers for this year to a record 61.7 million, up 1.6%, according to a new report.
A building boom in recent years has pushed rates down 11% to an average $224 per night since 2014. Occupancy remains well above 80%, compared to a national average of just over 60%, the CBRE report says.
“A traveller who can be flexible with the individual hotel and the time of arrival will find the best deals in a decade,” claims Bjorn Hanson, a professor at New York University’s Preston Robert Tisch Center for Hospitality, Tourism and Sports Management.
A room at the Wellington Hotel near Times Square, for example, is now just $217 a night, according to Expedia.com, while the new Ian Schrager Public Hotel boutique property in the Village is $245.
A whole suite at Candlewood Suites New York Times Square can be had for $301, and a room at the 5-star Trump SoHo, if you fancy that, is $465 a night.
The number of hotels in the city has grown by 55% since 2008 to 634, with 115,000 rooms, according to hotel research firm STR. And more are coming. Another 189 properties, with 31,757 rooms, are in the works.
New York Post


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