Looking to travel to New York City? We have good news for you, as hotel prices are the best they’ve been in some time, thanks in part to “room for rent” services such as Airbnb. With the hotel industry working hard to adapt and find their stride against these new options, the savings get passed on to fortunate customers.

Since the beginning of 2015, the metric known as revenue per available room, or “revpar”, has been down as much as 18.6%.

With this number down, the reaction from hotels has been simple and predictable: when they can make less money on each room, they need to fill more rooms to even out. This means lower prices and assorted perks, designed to entice more bookings. For you this means that the timing may be better than ever to pull the trigger on that long awaited NYC vacation.

Why is this happening?

Airbnb is a service that allows people to rent their apartment or other space on an open marketplace, and has created a niche market for those wishing to travel and stay outside of the established hotel industry infrastructure. It has made an especially big dent in the smaller, boutique hotel market, as comparably sized and located spaces can often be had for cheaper.

The exciting news here today is that Airbnb is finally making big enough waves that you don’t necessarily have to stay in someone’s apartment to get better that hotel rates. The landscape is shifting enough that you and your family can stay in a traditional hotel, simply at a better rate because other people opting for Airbnb (or other similar services) have taken a bite out of hotel wallets.

The long term implications for the hotel industry have yet to be seen. In NYC especially, Airbnb has been controversial, and there have been moves to block many apartment renters from offering their places. Bottom line: this may be a short lived benefit, and if you’re looking to take advantage of these lower hotel prices the time to act is NOW. Book soon and get in that vacation while the getting is good.

Looking to book an NYC Hotel room now?

Here are some great deals available for New York, that you can book today and reap the savings:

Also see all our family itineraries for New York City, and our NYC Spotlight!

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