This deal has expired, but be sure to check out our Top 25 deals of the week for savings on trips to destinations around the globe.

As if you need some convincing to see the bright lights of New York City, the soon-to-be-renamed Portland Square Hotel is getting a major multimillion-dollar makeover. Come spring 2011, it will re-open as the Sanctuary Hotel – a boutique hotel located in the heart of Times Square with rates starting at $400/night. A bit out of your price range? Don’t worry, little do people know, the hotel has already remodeled 90 of the 125 rooms and is allowing guests to test out the four-star accommodations without the four-star price tag – at a special “dress rehearsal” rate starting from just $149/night until January 31, 2011 – that’s an eye-popping 60 percent less than what the going rate will be!

THE VALUE: This deal shaves up to 60 percent off standard room rates.

THE CATCH: If you plan to usher in 2011 on December 31, a minimum 2-night stay is required and rates are a bit higher than $149/night.

THE HOTEL: The new guest rooms, which offer complimentary WiFi, feature luxurious European linens, plasma televisions, and iPod docking stations. The overhaul also calls for exposed brick or metal beams in some rooms, as well as open-plan bathrooms and rain showerheads.

THE DETAILS: If you’re interested in booking this dress rehearsal rate, visit www.portlandsquarehotel.com and use the code “DRESS” or call 212-382-0600. Offer is valid for travel through January 31.

WE’VE GOT MORE: Book a flight to the Big Apple with our Travel Search price comparison tool.

See other knock-out New York City Hotel Deals.

Get a jump-start on New Year’s Eve plans. See our Top 10 Places to Ring in 2011.