Exploratory prices surge as Hurricane Sandy hits New York: Hotels and landlords cash in on $700 per night for a single room

Profit-driven hotels and landlords took advantage of the desperation of those affected by Hurricane Sandy, charging exorbitant prices for shelter. Craigslist was flooded with posts for expensive rooms, with one ad offering a single bedroom apartment with electricity for $700 per night. The Red Carpet Inn in Bushwick raised its rates from $99 to $500, and the New York Palace Hotel in Midtown increased its prices from $100 to $600 per night. Some hotels claimed that the price increase was due to high occupancy, but as power was restored and the marathon was cancelled, prices began to drop. However, amidst the greed, there were still individuals who chose to do the right thing. For example, a hotel owner in Staten Island refused to evict storm victims in order to accommodate marathon runners. Despite the loss of business, the owner prioritized helping those in need and even hosted a local resident’s wedding. Contracts with the NYC Road Runners Club, the marathon’s sponsor, are crucial to the owner’s business, but the decision to support storm refugees was backed by both the club and individual guests. The owner offered free cots, meals, and transportation to the starting line as an alternative to providing rooms. This selfless act demonstrated that this crisis was more important than profit.

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