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Broker: Hotels Slashing Prices Days Before Super Bowl

People walk by the Millenium Hilton in Midtown Manhattan on Dec. 3, 2013. (credit: Getty Images)

People walk by the Millenium Hilton in Midtown Manhattan on Dec. 3, 2013. (credit: Getty Images)

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Super Bowl XLVIII

NEW YORK (CBSNewYork) — In the 16 years he’s been brokering Super Bowl hotel rooms on 14SB.com, Alan Bachand says this year has been the worst.

“We’re definitely going to lose hundreds of thousands of dollars on this Super Bowl,” he told WCBS 880’s Alex Silverman.

Bachand said anyone who booked a room a year ago at the Sheraton Four Points in Manhattan would have paid $2,000 a night. The hotel still has rooms available for $300.

A quick Web search for hotels around the Meadowlands comes up with prices as low as $199.

“I would say 90 percent of all the hotels have availability right now,” Bachand said.

Mark Giangiulio, general manager of The Grand Summit Hotel in Summit, N.J., said they lowered room prices in an effort to generate more business, but there are still a lot of vacant rooms.

“We anticipated being much busier than we are right now,” Giangiulio told 1010 WINS.

PHOTOS: Super Bowl Media Day | Super Bowl Boulevard | Super Bowl Kickoff Spectacular

Why are so many room still available?

“There are so many hotel rooms in the New York market, and as well as people had a second thought about the cold weather,” Bachand said.

Giangiulio said many hotels in New Jersey anticipated higher occupancies and rates, but most people are booking rooms in New York because a majority of Super Bowl-themed events, like Super Bowl Boulevard, are in the Big Apple.

“I don’t think North Jersey in particular anticipated that the sheer number of rooms in New York would really take over the majority of the people that were coming to the Super Bowl,” Giangiulio said.

Not everyone seems concerned, however. On Monday, Jersey City Mayor Steve Fulop said hotels in his city were “at nearly 100 percent occupancy.” Both the Broncos and Seahawks are staying in Jersey City.

LINK: Guide To Super Bowl XLVIII

Super Bowl planners have predicted the New York City area would reap an estimated economic boost of $500 million to $600 million from the game, but have refused to provide information about how they tabulated that estimate. Sports economists, however, say the financial impact could fall far below expectations, perhaps one-tenth of what organizers forecast.

Bachand, meanwhile, admits his phone is ringing off the hook — but with people who are looking to sell their rooms.

He’s not buying.

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