Hotels desperate to entice tourists
In a landmark move to attract a larger clientel, hoteliers have slashed prices in a race to reach the bottom. The old axiom, "you get what you pay for" may not be true in today's climate after this watershed decrease in hotel rooms.
Falling to pre-9/11 volumes, high-end hotels are slashing prices to the bone. Imagine staying at a Crowne Plaza for just $10-a-night over the weekend. The Red Roof Inn has even offered eye-popping rates as low as 1¢ near the County Convention Center.
Experts are concerned with resorts like Marriot World Resort near Disney World that would make deep discounts as low as 25% on room rates. Recouperating rates at such low discounts not only will hurt to market but require several years to recover.
Some hotels have cut their rates as low as 10-12% like the Best Western in Kissimmee in deperation to grab some business from Disney World. After 9-11 attacks on the World Trade center, it took the market nearly four years to recoup the 11% rate losses.
Falling to pre-9/11 volumes, high-end hotels are slashing prices to the bone. Imagine staying at a Crowne Plaza for just $10-a-night over the weekend. The Red Roof Inn has even offered eye-popping rates as low as 1¢ near the County Convention Center.
Experts are concerned with resorts like Marriot World Resort near Disney World that would make deep discounts as low as 25% on room rates. Recouperating rates at such low discounts not only will hurt to market but require several years to recover.
Some hotels have cut their rates as low as 10-12% like the Best Western in Kissimmee in deperation to grab some business from Disney World. After 9-11 attacks on the World Trade center, it took the market nearly four years to recoup the 11% rate losses.
posted by michael at
8:42 AM
