Sunday, November 19, 2006

No cheap hotel rooms for New Years Eve weekend in New York City

I went ahead and did a test with Priceline to try to get a hotel room for New Years Eve for my two-week trip to New York City at the end of the year. I tried a bunch of bid combinations at $110, $120, and $140 in various areas of Manhattan, but they were all rejected, even for 1-star budget hotels. I didn't have a high hope for success, but there was no sense not to try to get a cheap room if one were available. At least I now know that if I get a bid  accepted at above that range I won't have left all that money on the table.

Maybe this simply illustrates how well the economy is doing and how much many people have to spend.

The big unknown question is whether demand will slacken or tighten between now and New Years. I suspect it will tighten since New Years Eve is such a special event in New York City.

In a few days I'll re-bid, shooting for the $140 to $175 range. I suspect that I have a 50/50 chance of success there. If that fails, I'll go for $175 to $200, then the $200 to $225 range, then the $225 to $300 range. At that point I'll opt to stay outside Manhattan. I might also opt for an even higher bid for New Years Eve itself and balance that in my budget by staying outside Manhattan the night before New Years Eve.

-- Jack Krupansky

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