Room Rate Plunge
Now would be an excellent time to invite your parents to come and visit New York! According to a new survey, nightly hotel rates in the city have dropped nearly 30 percent over the past year: The average room now costs $284 a night, down from $404 at the beginning of 2008. On the other hand, if you happen to despise your parents and want to punish them for ruining your childhood, you'd be better off proposing that they take a trip to Abu Dhabi, Dubai, Tokyo or Milan. Those were the only four big cities that saw hotel rates increase over the past year. [HotelChatter]