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Hotel Rates in New York City skyrocket ahead of NYE

altNew York may be officially the most popular place in the US to spend New Year, but travelers will still be paying through the nose for the privilege.

Staying in the Big Apple in 2012 will cost revelers up to 700 percent more than normal, price comparison site NewYorkHotels.org said this week.

On average, the 50 properties that have room availability are charging more than triple their regular rates, the website calculated.

Earlier this week, Priceline.com revealed that it has seen a surge of interest among travelers wishing to spend New Year’s Eve in New York, which pushed Las Vegas off the top spot for New Year’s Eve destinations for the first time in seven years.

That seems to have led to something of a booking frenzy, with one two-star hotel in Brooklyn reportedly pushing up its nightly rate from $119 to $1,000 for the night and none in the center charging under $500.

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