Waldorf Astoria New York Opens Its Meeting Space, But Can Companies Afford to Come?

This week marks the opening of the Waldorf Astoria New York’s 43,000 square feet of meeting and event spaces, including the legendary Grand Ballroom and Basildon, Jade, and Astor Rooms. 

The re-opening of New York City’s most talked-about iconic hotel — eight years and billions of dollars in the making — took place in July. Its three food and beverage experiences, as well as the Guerlain Wellness Spa, are also now open.

Much of the Waldorf Astoria’s Art Deco charm remains intact, and features such as the 1893 Waldorf Astoria Clock and Cole Porter Piano have been refreshed. Also renewed are the eight private meeting rooms.

But can companies afford this level of luxury?

Maggie Mojica, director of group sales, reports that she is receiving inquiries for incentive groups. “We have incentive groups staying with us in December across the auto and financial industries, with the groups booking 15 rooms across four nights.”

That’s at group rates ranging from $695 to $1,995, depending on seasonality (guest rooms for individual travelers start at $1,500). 

Gary McCreary, managing partner of GLM Luxury Events, has also been fielding inquiries about the Waldorf and other top New York properties for 2026. “The interest in the Waldorf centers on the ‘be-first-back’ story and the Grand Ballroom’s return to New York. I expect strong interest for leadership cohorts and President’s Clubs.”

He has seen clients stretch their rooms budgets to $1,500 to $2,000 when the property itself is the reward. ”These winners would be used to this level of luxury and have experienced luxurious hotels like the Paris palaces (the Ritz Paris or Hôtel de Crillon), and experiences like small-ship luxury sailings,” he said.

Rudy Garza, president and CEO, Brightspot Incentives & Events, says it’s a fit for only a fraction of incentive groups. “Roughly 25% of our clients have the budget to support it. But with some creative planning, a savvy incentive travel planner could make it work without sacrificing the overall attendee experience.”

Data from the upcoming Incentive Travel Index, which will be released at IMEX, reports that planners anticipate 28% of their incentive budgets will be spent on hotel rooms in 2026. Half of them indicated that number is an increase over prior years, said Stephanie Harris, president of the Incentive Research Foundation.

“Hotel expenses are usually the top spending category for an incentive travel budget, and that would certainly be the case here,” said Garza.