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NYC hotels raise rates for New Year’s Eve

Thinking of hitting Times Square for New Year’s Eve?

You might want to reconsider if you haven’t secured a hotel room yet.

An analysis by found that the few hotel rooms still available in and around Manhattan are charging rates as much as 700% higher than usual.

The survey, conducted on Dec. 27, looked at the cheapest available double rooms on three leading hotel-booking sites: Expedia, Priceline and Orbitz. compared the rates for Dec. 31 with those exactly one week later.

READ MORE:  Las Vegas expects record crowd for New Year’s Eve

The areas around Central Park and the Financial District are particularly expensive. For instance, when Hotel Check-in looked online, a standard room at the Eurostars Wall Street was going for $607 New Year’s Eve. Book a week later, and you can get that room for $136.

Head downtown to Soho and Tribeca, and you can find some rooms for below $500 a night, found in its survey of properties. Hotel Check-in found a superior queen room at the Soho Grand for $449 online. (A week later, the same room would run you $267.) But you’ll have to go to Brooklyn to break the $300 mark.

ALSO ONLINE:  New York hotels offer deals after the new year

It’s not surprising. About 1 million people are expected to celebrate New Year’s at Times Square. For first two weeks of December, hotel occupancy was at about 86%, says Chris Heywood, a spokesman for NYC Company, the official marketing and tourism organization for the city. has some advice for budget travelers: Try booking a room near JFK Airport, where rooms can still be had for about $200 a night. The AirTrain can take New Year’s Eve revelers to and from Times Square in less than an hour.

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