The rate spike is due to a convention. ASCO : American Society of Clinical Oncologists. See the link below this post for more information. 25000 attendees from around the world are expected. You might find a spike in demand for your services;. Enjoy your visit.
Hotels price rooms based upon demand. When events like conventions, school graduations, and marathons occur, there are more out of towners in the city and therefore more demand for rooms. Hotels know this and increase pricing accordingly. It's not really a summer effect. There are weeks in the other seasons when rooms are expensive such as the restaurant convention and the cardiologists convention.
based on how many rooms are available or that the hotel can't sell at the regular rate. The longer you wait to book, the cheaper they are..just the opposite with flights though. I got a flight for $187 direct on southwest to Chicago, when Nashville was over $300 and it's half the time it takes to get to Chi town.