Record prices for a room in the aftermath of Hurricane Sandy

On the evening of New Year’s Eve, room rates in the Times Square bowtie area can reach $1,000. Industry leaders are expecting record room rates for hotels when the Super Bowl is held at MetLife Stadium in 2014 to reach or exceed these levels. Yet, this past weekend  the price of a hotel room in New York City is reaching record pricing in the aftermath of Hurricane Sandy coupled with the NYC Marathon.

Hotel Chatter reported that the thousands who were left stranded have filed up every conceivable nook and cranny of the city, with many travelers even resorting to hotels with no power just so they could have a bed to sleep on. A senior banking executive, who took refuge in Manhattan due to the loss of power in his Westchester home, told me that his family rented a room at the luxury Setai Fifth Avenue at 36th Street. This luxury hotel which is in contract to be sold or more than $1 million per key has lost most of its electric power. Nevertheless, all of the rooms were rented providing this banker a convenient location with limited electrical power, a working bathroom and a back up generator allowing for the elevators to operate, all for a price of nearly $700 per day.

At least the Setai is a brand new four and half star hotel with great amenities, as opposed to a limited service hotel a block away from Macy’s. Hotel Chatter reported that the Hampton Inn Manhattan, located at 59 West 35th Street, just off the corner of Avenue of the Americas price for this weekend was a mere $1,000 per night. This price is more than 450 percent higher than the rates on their web site for Friday, November 16th when the pricing is $224 (yes, I forget to mention a buffet continental breakfast is included at no additional cost).

Hotel chatter reported that on November 1st that a number of hotels remain open, with power, and have available rooms. A review by this writer on the web on the morning of Friday, November 2nd revealed limited vacancy available due to the combination of Hurricane Sandy and the New York Marathon. One hotel just around the block from the Waldorf Astoria in a non descript former residential building is a property known as the Best Western Hospitality House, at 145 East 49th Street. A few rooms were available for Saturday evening, November 3rd at a price of $529 as compared to $259 per evening if you reserved for Sunday, November 18th.

With a significant portion of hotels located in Lower Manhattan out of commission as well as limited or no available rooms in Brooklyn, visitors had the opportunity to spend the weekend in Long Island City. Just a few blocks from the Ed Koch, 59th Street Bridge is the Fairfield Inn Long Island City/Manhattan view, offering choice rooms for $339 (normal price is approximately $239 to $259 per day).

Perhaps you have an interest in a room at one of the several boutique properties in Long Island City which include the Z NYC, the Ravel and the Verve. The Verve at 40-03 29th Street price for a room was $699 as compared to a quoted price for Thursday, November 8th for $149 per night.

Posted on November 2, 2012 .