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Teacher: Could you please give me the list of events in NYC…

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This question is for Sarah Teacher:
Could you please give me the list of events in NYC and Chicago that impact the prices of hotels ?
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3/15/2018
Josie-Mod
Josie-Mod, Moderator
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Hello,
I'm Josie, a moderator for this topic.
I sent your requested Expert a message to follow up with you here, when she is back online.
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Sarah
Sarah, Teacher
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Thank you for the request. I will look into this and get back to you. Sarah

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Ok. . . I have been looking into this for you and it was difficult to find concrete information on the correlation between specific events in NYC and Chicago that impact the prices of hotels, but I am hopeful that what I did find will be helpful to you. Here we go. . .

Trip Advisor has put out a list of "dates to avoid" traveling to Chicago in 2018 because hotel rooms will be in higher demand and prices will most likely rise due to increased demand. While this list is specific to 2018, some events may be annual, which would allow you to anticipate that they would impact future years as well. Here's that list:

https://www.tripadvisor.com/ShowTopic-g35805-i32-k11170195-Dates_to_Avoid_through_Sept_2018-Chicago_Illinois.html

I also found a website that goes through the entire year of festivals in Chicago that bring large tourist crowds and could impact hotel room demand and pricing:

https://www.choosechicago.com/events-and-shows/festivals-guide/

This report (pg. 12) shows the ADR and OCC for 4th quarter in the Chicago Hotel Market and you'll notice that the October numbers are the highest. October is when the Chicago Marathon takes place so there may be a correlation there. http://www.revenue.state.il.us/AboutIdor/TaxResearch/2015-Q2-QuarterlyRevenueReport.pdf

Here is a report that shows monthly occupancy and ADR for Chicago hotels. https://www.choosechicago.com/media/research-and-statistics/monthly-occupancy-and-adr-statistics/

I could not find a report that specifically correlated hotel occupancy and pricing to Chicago tourism.

For New York, I found an interesting list that a New Yorker posted on Trip Adviser that gives a breakdown of hotel prices by month. While it was not written by a "professional," it seems to align with what I was seeing in my research. Here it is:

-Jan cheap

-Feb cheap except around Valentine's day and President's day

-March prices start creeping up but still relatively cheap

-April moderate except around Easter/Passover and spring break

-May expensive except around Memorial weekend, less so

-June VERY expensive

-July early in the month cheap to moderate...late in the month when UK schools break pricey

-August early in the month pricey when UK schools are out. Late in the month through Labor day bargains to be had, esp. last minute

-Sept. VERY expensive to outrageously expensive in the middle of the month for UN General Assembly

-Oct. expensive and then VERY expensive at end of month for Halloween

-Nov. early in month very expensive for NYC Marathon ( first Sunday). End of Nov. around Thanksgiving big deals

-Dec. OUTRAGEOUSLY expensive beginning, esp first weekend..one of the highest of the year. Prices take a nose dive around Dec. 18-27 and then go back up for NYE.

While I did not find a specific report that correlated New York City events and increased hotel prices, as I was researching, I did find evidence that the following events have an impact on hotel demand and pricing due to the large numbers of people who come to New York to attend them:

  • New York Fashion Week
  • Tribeca Film Festival
  • Broadway Week
  • Off Broadway Week
  • International Children's Film Festival
  • National Puerto Rican Day Parade
  • Pride Week
  • US Open (Tennis)
  • Westminster Dog Show
  • New York Comic Con
  • Macy's Thanksgiving Day Parade
  • New Year's Eve in Times Square

I found a website that goes through the entire year and lists all of the major annual events in New York City by month. The ones I listed above are all included on the list, as well as many others. This might help you with forecasting when hotel prices will have the potential to increase: https://www.nycgo.com/annual-events-in-nyc

This report is on "The Economic Impact of Tourism on New York for 2016. I thought it might have some helpful information for you regarding hotel revenue trends. https://www.governor.ny.gov/sites/governor.ny.gov/files/atoms/files/NYS_Tourism_Impact_2016.pdf

I apologize that I was not able to find clear-cut reports for Chicago or New York that highlighted direct correlations between specific tourist events and increased hotel pricing, but I hope that the information I was able to find will be helpful to you. It is always my first priority to provide excellent customer service. If you feel that I have done so, please take a moment to provide a positive rating. If not, please let me know how I can better assist you. Thank you. Have a wonderful evening. Sarah

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Good evening. I just wanted to check in with you since it has been a few days since I responded to this request. If you are satisfied with my service, please take a moment to provide a positive rating. If not, please let me know how I can better assist you. Thank you and have a wonderful evening! Sarah

Sarah
Sarah, Teacher
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Experience: Bachelor of Arts in Education/English, Masters in Education
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Customer reply replied 4 months ago
Hi Sarah. The answer was great. My partner asked you a question from another account. Please check : )

Yes, I have been offline for a couple days. Sorry about that! I just replied back to the other request a few minutes ago that I will look into it. :) Sarah

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