{"id":2261153,"date":"2024-06-06T08:48:02","date_gmt":"2024-06-06T12:48:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-nyc-hotel-rooms-soar-to-300-a-night-now-we-know-why\/"},"modified":"2024-06-06T08:53:28","modified_gmt":"2024-06-06T12:53:28","slug":"report-nyc-hotel-rooms-soar-to-300-a-night-now-we-know-why","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-nyc-hotel-rooms-soar-to-300-a-night-now-we-know-why\/","title":{"rendered":"Analysis: NYC Hotel Room Rates Reach $300 Per Night &#8211; Uncovering the Reasons"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-nyc-hotel-rooms-soar-to-300-a-night-now-we-know-why%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2261153&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The commentary by George C. Upper III on June\u200c 6, 2024, discusses how the law of supply and demand impacts hotel room rates in \u2063New York City. The city faces a unique situation with reduced supply due to hotels housing\u200c immigrants, leading to price hikes. The article also mentions the influence of Mayor Eric Adams\u200b and\u200b the regulations\u200d affecting short-term accommodations like Airbnb. George C. Upper\u2063 III&#8217;s commentary on June 6, 2024, delves into the influence of \u2063supply and demand on hotel room rates in New York City. The city grapples with a \u200cscarcity of rooms as hotels accommodate immigrants, resulting in increased \u2062prices. The piece also touches on Mayor Eric Adams&#8217; impact and the regulations impacting\u2063 short-term rentals such as \u2063Airbnb.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<header> <a href=\"https:\/\/www.westernjournal.com\/commentary\/\">  Commentary <\/a>   <span> <\/p>\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/georgeupper\/\">  <\/a> <\/p>\n<p> <span>   By <a href=\"https:\/\/www.westernjournal.com\/author\/georgeupper\/%20\"><span>George C. Upper III<\/span><\/a> <\/span> <span>   June 6, 2024 at 4:51am <\/span> <\/span>  <\/header>\n<section>\n<p>It\u2019s the law of supply and demand: When supply falls, prices rise. When demand rises, prices also rise.<\/p>\n<p>That\u2019s the perfect storm New York City finds itself in after paying hotels millions of dollars over the past couple of years to close themselves off to tourists and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/with-trump-gone-the-media-no-longer-cares-about-kids-in-cages\/\" title=\"With Trump Gone, The Media No Longer Cares About \u2018Kids In Cages\u2019\">house illegal immigrants<\/a> instead.<\/p>\n<p>According to <a href=\"https:\/\/www.nytimes.com\/2024\/05\/25\/nyregion\/hotels-prices-migrants-nyc.html\" target=\"_blank\" rel=\"noopener\">The New York Times<\/a>, one in every five New York City hotels is now an immigrant shelter \u2014 so there are fewer rooms to offer tourists. That\u2019s a reduction in supply.<\/p>\n<p>At the same time, demand is on the rise, according to the Times.<\/p>\n<p>\u201cTwo years in, as the city\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/12-stunning-marthas-vineyard-vacation-homes-with-plenty-of-room-for-illegal-migrants\/\" title=\"12 Stunning Martha\u2019s Vineyard Vacation Homes With Plenty Of Room For Illegal Migrants\">peak tourism season<\/a> is about to begin, the migrant crisis has helped dramatically shift the hotel landscape in New York,\u201d the paper reported. \u201cThe conversion of hotels to shelters has sharply decreased the supply of rooms just as tourist demand has risen, nearly to prepandemic levels, and is projected to match a record high.\u201d<\/p>\n<p>As any economist \u2014 or first-year economics student, for that matter \u2014 can tell you, those two factors combined can only mean one thing: rising prices.<\/p>\n<p>And that is in fact what\u2019s happened, according to the Times: The average cost to stay overnight in a <a href=\"https:\/\/www.westernjournal.com\/actor-steve-buscemi-attacked-broad-daylight-walking-new-york-city-street-report\/\" target=\"_blank\" rel=\"noopener\">New York City<\/a> hotel was up 8.5 percent last year over 2022, and hit $301.61, which the Times said set a record.<\/p>\n<p>This year, rates are set to go even higher \u2014 in the first quarter of this year, they were already up 6.7 percent over the same period last year.<\/p>\n<p>The outlet cited an analysis by Costar last November that showed 16,000 rooms made unavailable for tourists, offset by about 4,000 new rooms that were available at the time of the study, with another 8,000-plus under construction, in round figures.<\/p>\n<div id=\"firefly-poll-container\">\n<p>Would you pay $300 a night to visit NYC?<\/p>\n<\/p><\/div>\n<p>The Times said that the 2,812 rooms no longer open for tourists amounted to \u201ca shortage that is being acutely felt.\u201d<\/p>\n<p>\u201cDuring peak periods, try getting a hotel on a Tuesday, Wednesday or Thursday night in midtown Manhattan, and, if you can, you could end up paying dearly,\u201d Daniel H. Lesser, a co-founder of LW Hospitality Advisors, told the Times.<\/p>\n<p>\u201cIt\u2019s all supply-and-demand related, and the migrant rooms have reduced the amount of supply,\u201d he added.<\/p>\n<p>The current and <a href=\"https:\/\/www.westernjournal.com\/former-nyc-mayor-de-blasio-wants-bidens-next-labor-secretary-report\/\" target=\"_blank\" rel=\"noopener\">former mayors<\/a> haven\u2019t helped, either, according to the Times.<\/p>\n<p>A new law made most Airbnb and similar short-term accommodations unavailable \u2014 taking 83 percent of them off the market. And most of those remaining available for rent on Airbnb require a minimum stay of longer than 30 days.<\/p>\n<p>The Times reported that the short-term Airbnb rentals used to provide rooms for more than one-in-10 tourist stays.<\/p>\n<p>The law, which the hotel industry lobbied heavily for, according to the Times, may actually be having more of an impact than the <a href=\"https:\/\/www.westernjournal.com\/democratic-mayor-cuts-10-million-police-fire-budgets-fund-immigrant-aid\/\" target=\"_blank\" rel=\"noopener\">immigrant housing<\/a> crisis has had.<\/p>\n<p>Mayor <a href=\"https:\/\/www.westernjournal.com\/eric-adams-defends-firing-firefighter-died-heart-attack-leaving-family-financial-hole-just-life\/\" target=\"_blank\" rel=\"noopener\">Eric Adams<\/a> unsurprisingly acknowledged one half of the equation \u2014 the half that makes him look good \u2014 while ignoring the issue of reduced supply.<\/p>\n<p>\u201cThe return of tourists to New York City is reflected at hotels as well, where demand is up,\u201d a spokeswoman for Adams said in a statement. \u201cNew York City is safer, cleaner and, as the numbers show, continues to be one of the most popular destinations in the United States.\u201d<\/p>\n<p>Demand is up; that\u2019s true. Adams might even deserve some of the credit for that.<\/p>\n<p>But supply is down, too \u2014 way down. That\u2019s also having a significant impact on hotel room rates.<\/p>\n<p>And Adams definitely deserves much of the credit for <em>that<\/em>.<\/p>\n<hr>\n<div>\n<p><b>Option 4 (Donation &#8211; a note from our staff):<\/b><\/p>\n<p><b><i>An Important Message from Our Staff:<\/i><\/b><\/p>\n<p><i><span>We who work here at The Western Journal have fought for years against Big Tech and the elites who want to shut us down and then shut America down. <\/span><\/i><\/p>\n<p><i><span>Make no mistake \u2014 nothing will be the same after November 2024. Will you help us fight? Will you <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>help us expose the America-hating elites<\/span><\/i><\/a><i><span>  who will do everything they can to steal this election? <\/span><\/i><\/p>\n<p><i><span>We\u2019re a small group of people fighting to save the country for our readers and for our own family and friends. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Can we count on your help?<\/span><\/i><\/a><\/p>\n<p><i><span>At this point, Big Tech has cut off our access to 90% of advertisers. Imagine if someone took 90% of your paycheck and there was nothing you could do. They\u2019re trying to starve us out.<\/span><\/i><\/p>\n<p><i><span>Donations from readers like you have literally helped keep our lights on, and <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>we need you<\/span><\/i><\/a><i><span>  now more than ever. <\/span><\/i><\/p>\n<p><i><span>We operate on a shoestring budget, but with that budget, we terrify the globalists. Please help us continue the fight. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us<\/span><\/i><\/a><i><span>, and we will never surrender.<\/span><\/i><\/p>\n<p><i><span>Thank you for reading The Western Journal and for believing in America. <\/span><\/i><\/p>\n<p><i><span>It is a pleasure to serve you.<\/span><\/i><\/p>\n<p><i><span>P.S. Please don\u2019t let the America-hating left win. <\/span><\/i><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><i><span>Stand with us today<\/span><\/i><\/a><i><span>!<\/span><\/i><\/p>\n<\/p><\/div>\n<div id=\"author-info-44802\">\n<p><a href=\"https:\/\/www.westernjournal.com\/author\/georgeupper\/\">  <\/a> <\/p>\n<div>\n<p><label for=\"summary-tab-radio-44802\">Summary<\/label><label for=\"more-info-tab-radio-44802\">More<span> Biographical Information<\/span><\/label><label for=\"posts-tab-radio-44802\">Recent<span> Posts<\/span><\/label><label for=\"contact-tab-radio-44802\" onclick=\"if( typeof grecaptcha=='undefined' ) { let cap_s=document.createElement( 'script' ); cap_s.src='https:\/\/www.google.com\/recaptcha\/api.js?render=6LeJFcsUAAAAAPsIEqvB1EebWbZfqRUe6ebMpGy7'; document.body.appendChild( cap_s ); }\">Contact<\/label><\/p>\n<div>\n<p>George Upper is the former Editor-in-Chief of The Western Journal and was a weekly co-host of &#8220;WJ Live,&#8221; powered by The Western Journal. He is currently a contributing editor in the areas of faith, politics and culture. A former U.S. Army special operator, teacher and consultant, he is a lifetime member of the NRA and an active volunteer leader in his church. Born in Foxborough, Massachusetts, he has lived most of his life in central North Carolina.<\/p>\n<\/p><\/div>\n<div>\n<p>  George Upper, is the former editor-in-chief of The Western Journal and is now a contributing editor in the areas of faith, politics and culture. He currently serves as the connections pastor at Awestruck Church in Greensboro, North Carolina. He is a former U.S. Army special operator, teacher, manager and consultant. Born in Massachusetts, he graduated from Foxborough High School before joining the Army and spending most of the next three years at Fort Bragg. He holds bachelor&#8217;s and master&#8217;s degrees in English as well as a Master&#8217;s in Business Administration, all from the University of North Carolina at Greensboro. He and his wife life only a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cashing-in-blm-co-founder-goes-on-real-estate-buying-binge-snagging-four-homes-totaling-millions-of-dollars-report\/\" title=\"Cashing In: BLM Co-Founder Goes On \u2018Real-Estate Buying Binge,\u2019 Snagging Four Homes Totaling Millions Of Dollars: Report\u00a0\">short drive<\/a> from his three children, their spouses and his grandchildren. He is a lifetime member of the NRA and in his spare time he shoots, reads a lot of Lawrence Block and John D. MacDonald, and watches Bruce Campbell movies. He is a fan of individual freedom, Tommy Bahama, fine-point G-2 pens and the Oxford comma. <\/p>\n<p>  Birthplace <\/p>\n<p>  Foxborough, Massachusetts <\/p>\n<p>  Nationality <\/p>\n<p>  American <\/p>\n<p>  Honors\/Awards <\/p>\n<p>  Beta Gamma Sigma <\/p>\n<p>  Education <\/p>\n<p>  B.A., English, UNCG; M.A., English, UNCG; MBA, UNCG <\/p>\n<p>  Location <\/p>\n<p>  North Carolina <\/p>\n<p>  Languages Spoken <\/p>\n<p>  English <\/p>\n<p>  Topics of Expertise <\/p>\n<p>  Faith, Business, Leadership and Management, Military, Politics <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>George C. Upper III&#8217;s June 6, 2024, commentary at 4:51 am highlights the economic principle of supply and demand in New York City. The rise in hotel room rates to $300 per night is attributed to reduced supply and increased demand. This situation has emerged following substantial payments to hotels to limit their availability in recent years<\/p>\n","protected":false},"author":2010,"featured_media":2261154,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/New-York-City.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2261153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/06\/New-York-City.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2261153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2010"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2261153"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2261153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2261154"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2261153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2261153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2261153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}