Hotels averaging $1,000 a night soar in the US and Mexico

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Luxury hotels in the United States have raised their rates above $1,000 due to strong demand from leisure and high-net-worth travelers who also want to enjoy the personalized experiences offered by these properties.

The number of hotels in that price category charging four-digit average daily rates has tripled in the Americas and Europe since 2019.

In the United States, the number of hotels charging at least $1,000 in ADR has almost quadrupled in the last four years. In 2019, there were only 22 hotels charging such high prices, but by 2024, the number had already increased to 80, while in Mexico, the number has gone from about five to about 20 in five years.

Globally, in 2019 there were 150 hotels averaging rates above $1,000 per night, while in 2024 this number has grown to 460 establishments.

Hoteliers in Italy and France have emerged as winners as Americans flock to European countries, driven by the rise of the dollar. Switzerland, the United Kingdom and Spain have also seen more high-end tourists arrive.

As reported by REPORTUR.usin July, following the New York City Council’s regulation for short-term rentals such as Airbnb, Hotel rates continued to rise, with the effect of attracting more quality tourists after the ban on short-term rentals. (New York receives more quality tourists after banning Airbnb).

New York welcomes nearly 50 million tourists a year, and some hotels have already doubled their prices.