Originally Posted by
Finance_underling
Parnas will be renovating next year and will stop accepting reservations starting 2020. From my understanding, they are aiming to upgrade the hotel to boost nightly rates and points redemption. They consider 40,000/night too low for them (which I do not disagree with ugh). I'm also guessing they are trying to differentiate Parnas from the other IC on the same block.
40k for a hotel that is more than showing it's age and that's usually available for under $200 is quite expensive.
The Park Hyatt next door charges $350+ and that's a totally different league. That renovation project will be a MASSIVE undertaking as they need to take out the entire interior including flooring and tiles. Especially the bathrooms are is a desperate state at the moment.