Loading...
Market
NYC secures 14,000 hotel rooms for migrants by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official announcements from New York City government or reputable news sources
Story
New York City to Spend $5.76 Billion on 14,000 Hotel Rooms for Migrants at $352 Per Night Through 2025
Oct 11, 2024, 08:19 PM
New York City is planning to continue housing migrants in hotel rooms through at least 2025, with an estimated 14,000 rooms required until the end of next year. The cost of this initiative is projected to reach $5.76 billion, with the city spending approximately $352 per night per room. Mayor Eric Adams has announced that the city will spend $2.3 billion on hotel rooms for migrants through 2025. The total cost for New York State due to the border crisis is projected to be $12 billion. The city has already begun soliciting bids from contractors to secure these hotel rooms, including luxury hotels. The annual cost for New York City hotels is estimated at $1.8 billion.
View original story
Similar markets
Less than 100 • 25%
100 to 150 • 25%
151 to 200 • 25%
More than 200 • 25%
Less than 10 • 25%
10 to 20 • 25%
21 to 30 • 25%
More than 30 • 25%
Yes, more than 10 properties • 25%
Yes, 5 to 10 properties • 25%
Yes, less than 5 properties • 25%
No new initiative • 25%
Less than $1 billion • 25%
$1 billion to $1.5 billion • 25%
$1.5 billion to $2 billion • 25%
More than $2 billion • 25%
Yes • 50%
No • 50%
Less than 20 • 25%
20 to 25 • 25%
25 to 30 • 25%
More than 30 • 25%
Less than $500 million • 25%
$500 million to $1 billion • 25%
More than $1 billion • 25%
No additional funding • 25%