NYC Hotel Prices Skyrocket Amid Migrant Housing and Tourism Surge
TL;DR Summary
Hotel prices in New York City have hit record highs due to 20% of hotels being converted into shelters for migrants and the homeless, reducing the supply of available rooms. This, combined with rising tourist demand, inflation, and a ban on Airbnb short-term rentals, has driven up costs for travelers. The city's legal obligation to provide housing has led to significant spending on the migrant crisis, further impacting the hotel market.
- Why Hotels In New York City Are So Expensive Right Now Live and Let's Fly
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- Shocking reason why NYC hotel rooms have gotten so expensive - with average room now costing $300 a night Daily Mail
- Hotel rates soared to the highest level ever as tourism demand in New York City surged to pre-pandem.. - MK 매일경제
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