Ok, ok, ok. So, technically this movie does not take place on New Year's Eve or Day, but when a group of shipwrecked teens take shelter in an abandoned hotel, it's decorated for New Years, even though it's the middle of summer. And basically what ensues is a ghost story-meets "The Evil Dead" type of tale, full of spooks, time warps, zombies and demonic possessions. A few decent scares and fun cheese can't quite make up for the bad effects and lack of logic, but at least the story line attempts to be original. It's worth a look if you are a fan of 80's cheese.