New York hotel prices hit all-time high

New 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.