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Would You Pay $700 a Night (and Up) To Stay At These NYC Hotels?

May 14, 2013 at 9:31 AM | by | Comments (3)

Summer is almost upon us, and along with all the regular seasonal delights (rooftop cocktails, long weekends in Cape Cod, ice creeeaaam), one thing we hate, hate, hate about summer in the city is the exorbitant hotel rates.

We've seen numbers climbing to $600, $650, and even $700/night for a standard room, and we feel someone needs to take a stand against such preposterousness. So that someone may as well be us.

At a glance, we found several hotels overstepping the line with $700+ rates on a weeknight in June. Sheraton Times Square must be really raking it in, as they claim their "lowest available rate" is $749/night. Meanwhile, less than three miles away, the Sheraton Lincoln Harbor is offering a room on the same night for $289. For the difference in price, we could treat ourselves to a steak dinner at Peter Luger's and still wind up saving money.

Our question is: considering that hotels can justify these kinds of rates because it's the summer season, would you pay $700/night to stay at a Sheraton? Or would you look elsewhere? Let us know your thoughts below!

While browsing rates for the newly-rebranded Langham Place Fifth Avenue, we came up with $715/night on a Wednesday. Eesh. Now, we get that this is a fancy hotel (it was formerly the Setai Fifth Ave), but…really?

Also getting greedy is The Chatwal, which was charging $689 for the same night. Strike two, Starwood!

And though it's not quite as bad, we found starting rates of $610 at Eventi Hotel, which, sure, is a great hotel, and we always have love for Kimpton, but, we have to ask: is this what a night at Eventi is really worth on a weeknight in June?

In the meantime, you'll find us hiding out in New Jersey until all this extorting blows over sometime next January.

[Photo: HotelChatter]

Comments (3)

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BTW, about WiFi options

At the Sheraton, there is free WiFi in the lobby but if you want to work from the comfort of your room, which you paid $729 for, it's $14.95 a day. At least Langham Place and Chatwal have free WiFi. The Eventi has it free for their InTouch members

It is just outright greed

No hotel anywhere is worth $700+ per night, at least not for a normal room.  The wi-fi issue is gross, too.  I am Starwood Platinum so at least I get that for free.

Slim Margins

Operating a hotel in NYC is absurdly expensive. Between real estate taxes,  labor costs and maintenance, it is a wonder hotels can even stay open anymore. The flow through from a $700 room rate is marginal, especially at the true luxury level. In a few years time, we are going to see a lot of hotels converting to condos because the real estate is too valuable and the net profits are negligible.

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