NYC Hotel Rates Hit Record $468.54 Average

New York City's average nightly hotel rate reached a record $468.54 in September, surpassing the prior December 2025 high.

Updated on Nov. 4, 2026 in Hospitality

Economist-geometric style editorial illustration of a tall narrow tower rising over a staircase of shorter blocks in a flat red, cream, and slate palette, evoking rising urban lodging costs. — New York City's average nightly hotel rate hit a record $468.54 in September, 96 cents above the December 2025 peak, with budget properties also charging hundreds per night. AI Illustration. Upload story photo >

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The average nightly hotel rate in New York City reached $468.54 in September, 96 cents above the previous record set in December 2025. Budget-oriented properties are also charging hundreds of dollars per night, according to advertised rates.

Why it matters

Rising hotel prices affect visitors, event planners and budget travelers in New York City, where lower-cost rooms have become harder to find. Industry pressures cited by hotel operators include labor, utility, real estate tax and regulatory costs.

The average luxury hotel nightly rate reached $841 in September, 70% higher than September 2019. A Holiday Inn Express in Chelsea advertised $545 per night for Thanksgiving, while a Four Seasons junior suite on East 57th Street was listed at $2,912.

The players

Four Seasons Hotel

The Four Seasons is a luxury hotel brand operating high-end properties worldwide, including a location on East 57th Street in Manhattan.

Holiday Inn Express

Holiday Inn Express is a mid-tier hotel brand within the InterContinental Hotels Group, offering limited-service rooms in cities across the United States.

Distilled Spirits Council of the United States

The Distilled Spirits Council is a trade association representing American distillers and spirits companies in policy and industry matters.

The details

A junior suite at the Four Seasons Hotel on East 57th Street was advertised for $2,912 per night for Thanksgiving. Some lower-cost hotels were converted into migrant shelters in recent years, reducing the number of inexpensive rooms available to visitors.

2019: Baseline year for luxury rate comparison.
2023: City crackdown on short-term rentals directed travelers toward traditional hotels.
December 2025: Previous record for the average nightly hotel rate.
September 2026: Average nightly rate reached a record $468.54.
Thanksgiving 2026: Advertised holiday hotel rates were published.

Market Landscape

The 2023 crackdown on short-term rentals pushed more travelers into traditional hotels, a shift that coincides with record nightly rates. About 79% of planned hotel development in New York City focuses on luxury properties, narrowing the supply of lower-priced rooms.

Travelers planning New York City stays, including for Thanksgiving, may face hundreds of dollars per night even at budget-oriented hotels. Visitors on tight budgets should compare rates early, since lower-cost rooms appear to be scarcer than before.

The takeaway

Booking hotel rooms early and comparing properties beyond the most visible options can help travelers manage costs in a market where average rates have hit record levels.