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Hotels in Miami raising their rates by 500%

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Staff writer ▼ | December 30, 2014
Year-end celebrators who are looking for an accommodation in Miami to spend New Year's Eve will encounter drastically higher rates than usual. Hotels in the popular Florida resort city are raising their rates by up to 491%, according to a new survey from
Miami hotels
Hard to believe   Welcome to Miami, show me the money!
Currently fewer than 10% of hotels in Miami are still offering rooms for New Year's Eve. On average, these hotels have raised their rates by 185% in response to the limited availability. In Miami Beach, the average rate increase is even higher at 249%. And some hotels have hiked their rates by even more than that.

One such example is the Clinton Hotel South Beach, a three-star hotel that is charging $699 for a queen room on December 31. That price tag represents an increase of more than 400% compared to the hotel's regular rates. The biggest price elevator, though, is the Fashionhouse Hotel, also located in South Beach. A junior room there will cost New Year's Eve revelers an overnight rate of $999, or almost 500% more than usual.

For the cheapest available double room in Miami Beach, holiday celebrators will currently have to spend close to $400. If they are staying at least three nights, they can find a room for around $300 per night.

In downtown Miami, however, cheaper rooms will not be found. Those seeking more affordable options in which to ring in the New Year will have to look around the Miami airport. There on the city outskirts, a room can still be found for less than $200 on New Year's Eve.