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A $1,000 nightly rate is the new norm at luxury hotels.
In cities across the world, the average hotel room comes with a hefty four-digit price tag or more, according to new research published by Travel Weekly. The data, compiled by real estate analytics firm CoStar Group, found that 460 global properties clocked average daily rates of more than $1,000 by the first half of 2024. By comparison, in the same time period just five years ago, there were only about 150 hotels with…
