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I wrote an article back in October pointing to the true NYC hotel occupancy level being under 10% so this doesn’t come as any surprise, but it’s gut-wrenching nonetheless. Vaccine news should surely help things out in 2021, but as pointed out in an FT article, the CEO of the Hotel Association of New York doesn’t see things rebounding until at least second quarter, and believes if half of the 640 hotels make it, that would be great outcome. That’s putting stress on the commercial mortgage market that financed the expansive growth of these hotels over the last decade. Currently, 4 out of every 5 hotels in the NYC area are either in default, or on a watch list. As New Yorkers prepare for a possible second lockdown I thought I’d peruse the rates of Hyatt hotels in NYC next week just to see what things looked like from a booking perspective.
This is a look at all Hyatt Hotels for Wednesday 11/18 in the NYC area. The greyed out hotels simply aren’t even taking reservations ( that includes the Park Hyatt New York ) – 7 hotels of the 17 Hyatt hotesl in Manahattan are greyed out. Remember the average rate of any hotel room in NYC last year was over $300 a night – compare that to the rates you’re seeing. I believe the average for NYC ( not just Hyatt ) is about $135 a night. Many of those greyed out hotels don’t list when they will be up and running, but the ones that do, are scheduling operations in January 2021.
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Chase Sapphire Preferred® Card
Welcome Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
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