The American conservative says hotel stays in cities like Washington, D.C., Miami, Atlanta, Los Angeles and New York are now more expensive than they were a decade ago, with a number of high-end destinations like New York and Los Angeles topping the list.
In fact, the average hotel stay in Washington, DC, the most populous U.S. city, was more than $600,000 last year, according to data from Expedia, an online travel company.
The average in Miami was $500,000, and in Atlanta, it was $300,000.
The most expensive hotels are located in New York City and Los Vegas, and the cheapest in Las Vegas.
The National Association of Realtors says that the average price of a hotel room in each of the top 25 U.C.B.s (most populous cities) is now $1,800,000 or more.
In addition, the median monthly stay in a hotel has jumped more than 25 percent in the past decade, according the Association.
Many high-priced destinations are now experiencing their own surge in hotel occupancy, but the trend is also being felt in cities with relatively few hotel rooms, like Seattle and Denver.
For instance, in Denver, the number of people staying in the city’s five-star Sheraton Hotel has more than tripled in the last decade, from 3,400 to 15,000 in just the past three years.
The hotel industry is seeing a lot of growth in the U.K., but the number there of people spending at least $1 million a year is down from over 6 million in the late 1990s.
Many cities are also seeing a big increase in the number and number of luxury apartments.
According to data provided by real estate data provider Zillow, in the first quarter of 2018, the city of San Francisco added a record-breaking 5.4 million luxury apartments, which was a 14 percent increase over the same period last year.
The number of condos and townhouses rose by 12 percent over the year, while single-family homes are up 14 percent.
The city of Boston is also seeing the largest increase in luxury apartments in the country, with the average luxury apartment building increasing by more than 15 percent from the first nine months of 2018 to the third quarter of 2019.
The median price of condos in San Francisco is now at $1.7 million, while the median price in Boston is now around $2.1 million.
A number of cities have seen an influx of millennials who are now moving into the luxury market.
New York saw a significant increase in condo and townhome construction, and more than 10,000 apartments were added in the two years from July 2018 to June 2019, according Zillows.
According the real estate website Trulia, there were nearly 100,000 luxury apartments listed for sale in the United States last year and the average listing price in the New York area is now over $7 million.
However, the biggest increase in new luxury condos has been in the Boston area.
The percentage of condos that are new in Boston rose to 21.7 percent last year from 18.3 percent in 2017.
According that Zillower, “more than 50 percent of all luxury apartment units in Boston have been built or are under construction since 2000, compared to just under 40 percent in San Antonio and just over 30 percent in Seattle.”
In addition to luxury condos, a number are also popping up in other parts of the country.
According To the real-estate website Zillowers data, more than 80 percent of luxury condominiums in the Portland area were built or under construction between 2000 and 2019.
A majority of new luxury apartment buildings in Portland have been constructed since 2005, and have a median listing price of more than four million dollars.
A recent study by real-world real estate firm RealtyTrac found that the median cost of a new luxury condo in San Diego, California, is now just shy of $1 billion, while a median price for a luxury home in Los Angeles is nearly $1 to $2 million.
