December 04, 2007
City may hike illegal hotel fines (while legits hit $320)
The City Council is considering stepping up its enforcement against illegal hotels by increasing the penalty against building owners from $1,000 for a first offense to $20,000 maxfor third offenses and therafter, according to the NY Times and Sun.
One of the problems is that it's siphoning off Manhattan's affordable housing, a rare commodity even before the hotel rates went skyhigh.
How skyhigh? Here's the new data from Smith Travel Research as quoted by HotelChatter today:Prices in New York have gone up 15.4 percent, to a choke-inducing average room rate of $320.87. Last week the Sun reported there should be a "30 percent increase in available room inventory in Manhattan" in the next three years. Until then, the squeeze is on.
Image: Smyth Tribeca hotel under construction on November 11.
Earlier: Disappointing list of under-$200 hotels in NYC
December 4, 2007 04:51 PM in Hotelology
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