Hotels used as migrant shelters behind soaring NYC hotel prices
- Guy
- Jun 5, 2024
- 1 min read
Have you booked a hotel room in New York City lately? If so, you will be shocked at the high prices. The average daily rate in 2023 has increased 8.5% to over $300 per night.
Why. According to the New York Times, migrant shelters along with other factors that include inflation, loss of Airbnb short-term rentals and a decline in new hotel construction are behind this.
Migrant shelters. About one in five New York City hotels entered the "temporary" shelter program. Participating hotels are paid up to $185 a night per room. Not a single one has yet to convert back into a traditional hotel.
