In 2023, the cost of hotel rooms in NYC soared to a record average of $301 per night, as reported by The New York Times. But why are hotels in NYC so expensive now? Factors such as Airbnb and inflation contributed to this increase, but the migrant crisis also played a significant role. With numerous hotels converted into migrant shelters, the supply of available rooms dwindled. As a result, travelers planning trips to New York City should anticipate spending more money than ever on accommodation.