Hotel Rates Soar in Chicago as New Year’s Eve Looms, New Survey Reveals

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Ringing out 2011 in Chicago is going to put a strain on the wallet of last-minute travelers. A new survey compiled by ChicagoHotels.org has found that rates for available hotel rooms in the Windy City for New Year’s Eve have risen strongly.

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The Belden Stratford Hotel has increased its typical $99 rooms to $275 for New Year’s Eve. That price spike represents an almost 180% augmentation.

Ringing out 2011 in Chicago is going to put a strain on the wallet of last-minute travelers. A new survey compiled by ChicagoHotels.org has found that rates for available hotel rooms in the Windy City for New Year’s Eve have risen strongly.

With less than a week left to the year, 50% of Chicago hotels are posting no vacancies this December 31. Accommodations are still available in Chi-Town, however, that will allow visitors to ring in the New Year there …with one caveat: They’ll cost guests significantly more than usual.

The Crowne Plaza Hotel, for instance, has hiked its nightly rate by 134%. This 4-star establishment located just one-half block from the Magnificent Mile usually goes for $98 per night. On New Year’s Eve, however, it will cost people who are staying there $229.

The Belden Stratford Hotel, a comparable 4-star accommodation, is gouging guests even more. Conveniently situated across from Lincoln Park, it has increased its typical $99 rooms to $275 for New Year’s Eve. That price spike represents an almost 180% augmentation.

Travelers seeking to stay anywhere in or even close to the Magnificent Mile will pay $200 or more for the privilege. There, the average rate increase is a substantial 65%. Not all Chicago-area hotels are playing the New Year’s Eve Grinch, though.

The Loop District, for example, still has rooms available that are a more modest 40% above average. A room can still be had there for a reasonable $130 on the last night of the year. The River North neighborhood also still has rooms listed at a moderate 45% overnight surcharge. That figure is below the 55% average rate increase for all available hotel rooms analyzed by the survey.

For more information about this survey, visit http://www.chicagohotels.org/press/new-years-eve-2011.html
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Barbara Adams
Chicagohotels.org
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