Los Angeles Hotel Rates Skyrocket for New Year’s Eve
December 27, 2012
Out-of-towners who plan on ringing in the New Year in Los Angeles better have an extra-fat wallet if they haven’t secured a hotel room yet. They can still score a last-minute place to stay, but they’ll pay substantially, in some case even exorbitantly, more at this eleventh hour. That’s the finding of a new survey from LosAngelesHotels.org.
Of the 20% of LA hotels that are currently still listing vacancies, the survey uncovered that the average rate hike is 102%. Those accommodations located near the most popular southern California beaches, however, are taking financial advantage of New Year’s Eve guests even more.
The Bayside Hotel, with a prime locale near the Santa Monica Pier, is a prime example. There, the asking price for a queen room on December 31 is currently $849. That’s a hefty 437% more than guests would typically pay for the same room. Right on the Venice Beach Boardwalk, the Cadillac Hotel makes the Bayside look like a bargain this New Year’s Eve, though. Indeed, Cadillac guests can expect to pay $1199 for a double room on the last day of the year. That triple-digit figure equates to a 649% increase over the typical nightly rate.
For the cheapest available double room in a minimum 3-star hotel, out-of-towners currently will have to pay $200 in downtown LA or Beverly Hills. It they want to stay in Hollywood or Santa Monica, they can expect to pay upwards of $300. More affordable rooms can still be scored, however, in Manhattan Beach and Redondo Beach. There, guests will pay only around $150 on for a December 31 stay.
The following table shows the 10 hotels with the biggest rate increases for New Year’s Eve in Los Angeles. For comparison, average rates for the same rooms during the month of January were established and determined as Regular Rates. All rates were established December 26–27 via the leading hotel booking sites.