My husband and I have been planning a trip to New York City for over a month. Our budget was unhappy with the hotel rates we initially encountered. So, we decided to wait until the last minute to book. If you know me at all, you know that this was an extreme exercise for me. EXTREME! The way that I was able to reconcile the situation was that I told myself that, in the worse case scenario, we simply were not going to go. My husband had reconciled himself to paying, at most, $300/night for a hotel (which was about $50/night more than we wanted to pay). If you know anything about NYC hotel rates, you will realize that anything under about $350/night is pretty good.
HA! We just booked a 3.5 star deal near Times Square for $204/night. If you have the patience, I highly recommend last minute deals from hotwire.com. We played around with priceline.com, but they failed us as recently as Saturday. Today was THE day.
I feel better now. Hee hee.