Miami Beach is the most expensive destination in the world for overnight accommodation this coming New Year’s Eve, according to a survey by CheapHotels.org.

With a nightly rate of $365 for the least expensive room, Miami Beach emerged top of the rankings. The survey compared hotel rates in 50 major cities globally. For each destination, the price for the cheapest available double room for a 3-night stay from 30 December-2 January was recorded. Only centrally-located hotels rated at least three stars and with generally positive guest reviews were taken into account.

While much of Miami will ring in 2022 with lavish parties and topnotch music performances, the area will also play host to the College Football Playoff’s Orange Bowl semifinal matchup between the No. 2 Michigan Wolverines and the No. 3 Georgia Bulldogs on New Year’s Eve. The semifinal matchup, which will be held at Hard Rock Stadium in Miami Gardens, officially sold out hours after tickets went on sale.

The report also found that Cancun is the priciest non-US city with a rate of $228 per night, ranking it 5th overall. Additionally, the Scottish capital of Edinburgh ($221) is the most expensive European destination, while Rio de Janeiro ($206) in Brazil came out as the priciest city in Latin America.

The survey results also highlight how the COVID-19 pandemic is still impacting significantly on hotel prices globally. For example, in Dubai and Sydney, both of which were among the most expensive destinations for New Year’s Eve accommodation back in 2019, rates are between 40-50 percent lower this year. In Hong Kong, prices are down even more, up to a startling 70 percent.

In addition to Miami Beach, New Orleans ($304), Nashville ($284), New York City ($275), Honolulu ($264), Cancun ($228), Las Vegas ($225), Edinburgh ($221), Rio de Janeiro ($206), Los Angeles ($205) rounded out the world’s 10 priciest destinations for accommodation on New Year’s Eve this year. The prices shown next to each destination reflect the nightly rate for the most affordable double room for the period 30 December-2 January.