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Rates at New York hotels keep on going up

You would think that people are cutting back on luxuries such as hotel stays with the current concerns about the economy.   However, research by PKF Consulting tells us that hotels in New York are getting more expensive. In November 2007 the average price of a room in  NYC hit $292, 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. And apparently even the $14,000 per night Presidential Suite at the Mandarin Oriental is occupied 75% of the time.

Paul Johnson

Paul Johnson is Editor of A Luxury Travel Blog and has worked in the travel industry for more than 30 years. He is Winner of the Innovations in Travel ‘Best Travel Influencer’ Award from WIRED magazine. In addition to other awards, the blog has also been voted “one of the world’s best travel blogs” and “best for luxury” by The Daily Telegraph.

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