Can someone explain to me why the rates for Venice and Santa Monica Beach hotels are ridiculous on NYE? Even the lowly Bayside Hotel shows crazy rates of over 300.00 for the 31st and some rooms as high as 600.00. Shirley, this can't be correct! The Cadillac Hotel has a similarly unbelievable rate of 566.00 for that night, for crying out loud. I've spend several NYE in Santa Monica and nothing really happens there, which is why I like it. What's all the fuss now?
Also, if anyone has any experience with the Cadillac, do tell! Reviews I have read are mixed. I'm familiar with the location, so that's not a problem, but I'm wondering if the renovation was really a big improvement, or if staying in the hostel might be better.