This Fourth of July, fireworks aren’t the only thing soaring in New York City. Hotel prices are set to reach a new high, thanks to a union contract that takes effect on July 1.
The Hotel and Gaming Trades Council’s newly ratified contract with hundreds of New York hotels locks in an unprecedented wage increase that could throw the industry off its already shaky axis. Under the agreement, hotel workers’ wages will exceed $40 per hour this summer and could approach $60 per hour by the end of the eight-year contract.
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