New York hotel prices hit all-time high

Presidential suite at Mandarin Oriental New YorkNew York hotels just keep on getting pricier, according to industry analysts PKF Consulting. The average price of a room in the city hit $292 in November 2005, more than its previous record yearly average of $237, set in 2000. An estimated 22 million nights were sold at city hotels in 2005, surpassing the 21.4 million sold in 2004. Even the $14,000 per night presidential suite at the Mandarin Oriental is occupied 75% of the time.

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