The average price of a hotel room in New York City rose in just a year and a half, from an average $225 a night to $290 a night, a 65% increase. In other U.S. cities over those same months, the average price increased by less than 8%, from $162 to $170.
The result was windfall profits for NYC hotels. Revenues went up by more than $2 billion in 18 months.
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