New York City hotel room prices are increasing, in part due to the ongoing pressures put on the city's hotel system by increased migrant arrivals.
The cost of a hotel room has hit a record high in New York City, in part due to the ongoing migrant crisis, which has squeezed the number of hotel rooms available for tourists. The New York Times, citing data from CoStar, reported that the average daily rate for a hotel stay in NYC increased to $301.61 in 2023, up 8.5% from $277.92 in 2022. More recently, in the first three months of 2024, the average stay was $230.79 a night, up from $216.38 in the same period last year.
The city is one of a growing number that have faced woes related to the ongoing migrant crisis. Denver and Chicago are among the cities that have joined NYC in appealing for more aid from the government, including $5 billion in funding, a national resettlement strategy and expedited work permits for asylum seekers.
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