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HotelChatter Reader Deals :: NYC Hotels Rates Going Down? Not Just Yet

September 18, 2008 at 3:50 PM | by | Comment (1)

With the collapse of Lehman Brothers this week, the sale of Merrill Lynch to Bank of America and the Federal Reserve stepping in to save AIG, it's been a very tough few days on Wall Street and it will probably get tougher.

The impact on New York City's economy is yet to be seen but with the loss of several thousands of jobs, we think that everything is just going to be a lot rougher than normal.

On the somewhat bright side, hotel prices for NYC may drop. But the operative word here is "may."

Off the bat, we're not seeing anything unusual. Gild Hall on Wall Street is asking for $500 a night in two weeks for a superior king room on a Thursday night. Quikbook sent out an email blast last week saying that hotel prices were dropping a bit in NYC. But when we looked at the options, we saw the Pod Hotel from $169 a night and the Comfort Inn Brooklyn Bridge from $219 a night.

Um...yeah. How about some hotels that we would actually stay in?

Over on Tablet Hotels (which usually lists hotels that we would prefer to stay in), prices for the weekend of October 3-5 were also high. The Night Hotel--a Midwesterner's Gothic dream come true in Times Square--costs $329 a night. The Hotel on Rivington is $396. Six Columbus creeps up to $405 a night. And the most outrageous cost is the Soho House at $1,450. Those damns Euros and their Euros.

Plugging in that same weekend on Hotels.com yielded some slightly cheaper alternatives mostly around midtown with the exception of The Hudson which is asking for $559 for one of its coffins rooms.

We also hit up Expedia just to see what they had shaking from 10/3 to 10/5 and the prices were almost quote-for-quote exactly the same as Hotels.com. However, we did see the Peninsula Hotel going for $523 a night. This is by no means a cheap rate. But considering this is the swank Peninsula and it has rooms bigger than the Hudson, we say this is a better buy.

Lastly, we fiddled around on other hotel websites. We checked in at The Bowery Hotel and found rates of $550. Still, that beats the Hudson any day. The Holiday Inn Chelsea, with its horrible 2-in-1 shampoo/conditioner bottles, was a surprising $389 a night. The brand new Four Points Soho Hotel, a B-grade brand from Starwood, is a heartbreaking $395 a night.

We'll be keeping a very close eye on deals in New York City as the weeks wear on. For now, if room rates in the city stay where they are, it looks like a lot more of us will be checking into the Jane Hotel (rates were $99 a night on our selected weekend) than we initially thought.

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Not sure

Nice post. I'm not sure you are right, it's kind of illusion - some rate are going down some up. It's like playing the UK television program deal or no deal online game, you think you are right but you don't have any chance.

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