December 28, 2011 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.
The following table shows the ten hotels with the biggest rate increases for New Year’s Eve in Chicago.
| Name of Hotel |
Stars |
Location |
Regular Rate |
New Year's Eve Rate |
| Belden Stratford |
4.0 |
Lincoln Park |
$99 |
$275 |
| Crowne Plaza Hotel |
4.0 |
Magnificent Mile |
$98 |
$229 |
| Comfort Inn & Suites Downtown |
3.0 |
The Loop |
$89 |
$189 |
| Chicago's Essex Inn |
3.0 |
The Loop |
$99 |
$199 |
| Hilton Suites Chicago |
3.5 |
Magnificent Mile |
$104 |
$209 |
| Palmoar Chicago |
4.0 |
Magnificent Mile |
$118 |
$220 |
| The Allerton Chicago |
4.0 |
Magnificent Mile |
$139 |
$249 |
| W Chicago City Center |
4.0 |
The Loop |
$109 |
$199 |
| Hotel Indigo Chicago |
3.5 |
Gold Coast |
$149 |
$257 |
| Affinia Chicago |
4.0 |
Magnificent Mile |
$144 |
$236 |
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About the survey:
The survey was conducted on December 28, 2011. Available hotels in Chicago and their rates for the cheapest available double room on New Year’s Eve were established based on a search of the leading hotel-booking sites: Expedia, Priceline and Orbitz. For comparison, the rates for the same rooms from January 7 to 8 were established and determined as “Regular Rates.”
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