By Terry Trucco
No joke. The year is young, but so far 2014 New York hotel prices are trending lower than industry observers expected.
“Hotels in New York are not experiencing as high levels of occupancy as last year, at least from what we’re hearing anecdotally,” says Cheryl Rosner, co-founder and CEO of Stayful, a bidding website specializing in boutique hotel deals. “We were forecasting higher rates, but we’re not seeing them.”
A big factor has been the weather, from near-record snowfalls to frigid temperatures that just won’t quit (with a high that barely topped freezing, St. Patrick’s Day 2014 was the coldest in memory). Even the Super Bowl spike, when temperatures miraculously soared into the 50s, couldn’t offset a winter plagued by airport closings and other weather mishaps (no one’s added up the hotel losses from in-person business meetings surrendered to videochat). (more…)