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Market
Will NYC hotels receive over $1 billion for migrant shelters in the fiscal year 2024-2025?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
NYC financial reports, official government statements
Story
NYC Hotels to Receive Over $1 Billion for Migrant Shelters, $4820 per Month per Room
Jul 8, 2024, 10:00 AM
New York City hotels that have been converted into shelters for migrants are set to receive over $1 billion in taxpayer funds, according to internal documents. The annual expenditure on migrant hotel lodging is approximately $1 billion, which equates to $178 revenue per available room, comparable to the midrange for the Manhattan pre-COVID hotel industry. Reports indicate that this arrangement results in $352 per household per day. Additionally, the cost per room is $4820 per month. This substantial financial commitment is part of the broader costs associated with the current border crisis.
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