NY Hotel Rates Drop 30%

A new study by Ovation Travel Group showed that nightly rates in NYC hotels dropped nearly 30% from an average of $404 to $284 in the first quarter of 2009 period compared to the same period in 2008. It surveyed nightly hotel rates in 30 global cities, 12 of which were in the U.S.

Hotel rates in Atlanta and Chicago’s fell by 19%. Every time I go to Chicago, I try to stay at the Sheraton Towers on the lake and walk to the Navy Pier. Good times. Hotel rates in Abu Dhabi went up by 34%. I’ll scratch that off my itinerary. In other news, my sister has given up looking for work in NYC. She’s moving back to Pennsylvania where the cost of living is lower (my house, for free), but the job prospects are unfortunately the same or worse. There goes the neighborhood.