NYC hotels pricing out tourists

Analysts say rising hotel costs are causing the city’s tourism growth rate to slow. The number of domestic visitors only increased 2 percent in the last year, down from an average annual increase of 5.8 percent since 2003. International tourism slowed to a 6.5 percent gain over 2005, compared with a 10.3 percent increase in the previous year. This happened as the average price of a hotel room jumped to $273 in the first half of 2007, up 13 percent from a year before. more [Post]