Down Economy hurting Luxury Hotels
Down Economy hurting Luxury Hotels
Even as midprice hotels began losing business this past summer, luxury hotels continued to fill their rooms. Companies treated the hotels as perks for top executives and quality locations for high-level business meetings. And many leisure travelers considered a stay at a top hotel – even for a couple of days – to be worth the cost.
Times have changed.
Since mid-September, almost in parallel with the stock market turmoil, demand for high-end hotel rooms has plummeted. Patrick Ford, president of Lodging Econometrics, said that U.S. luxury hotel-room revenue rates “slowed in mid-September and really ratcheted downward during October.”
Revenue per available room, the standard measure of performance, dropped 14 percent at upscale and luxury hotels in the week ending Oct. 18 over the comparable week last year, according to Smith Travel Research. For hotels in general, the decline was about 8 percent.
This is a good thing.
I was at the Bellagio in Las Vegas for the first time last week (I typically stay at Wynn or THE HOTEL). I had to say there because I was invited to a meeting of Democratic heavyweights there. Bill Maher guest speaker. Chilled with Maher a Spearmint Rhino for a little too.
Bottom rooms were like $159 a night (of course I didn’t stay in the “bottom room” and it was pro-bono, but that is neither Google Stock nor Body Rock).
Super cheap. Motel-like prices.
The Rest is Up to You…
Michael Porfirio Mason
AKA The Peoples Champ
AKA Your favorite International Playboy’s, favorite International Playboy
The Guide to Getting More out of Life
http://www.thegmanifesto.com
Mos Def, Q-Tip & Dash – Body rock
29/10/2008 at 9:09 pm Permalink
Dude, I love the Rhino. Went there at non-peak hours and still had the best time I’d ever had at such a place.
Any other gentlemen’s clubs in Vegas that get the G Manifesto seal of approval?
30/10/2008 at 11:26 am Permalink
Caught this statement on Wale’s blog and mirrors the views of fellow G’s. Pretty good blog which he and his crew write and post stuff
Let’s face it, most of the people who read this site probably hate Ed Hardy as much as Wale does. I used to hate Ed Hardy. And don’t get me wrong, you would never catch me wearing it. But here’s what I’ve realized about Ed Hardy (and you can throw Von Dutch, Christian Audigier and Affliction in there too), as much as I hate them, never before has a clothing company told you so much about the person wearing it. With the rise of streetwear over the past few years, you have all these kids aspiring to be something or associated with something, but with Ed Hardy, there is like ZERO irony in wearing it. People genuinely think it’s cool. They aren’t TRYING to be cool. They actually think they’ve achieved coolness and that Ed Hardy is the tits when it comes to t-shirts (or trucker hats with roses and rhinestones). The poor decision-making that goes into incorporating Ed Hardy into a wardrobe is very telling about someone’s taste and thought process. With that said, I have turned my disdain of Ed Hardy into something of a human litmus test; a sort of fashion iodine that exposes douchebaggery. Although I think athletes can be exempted from this, as I saw Michael Beasley get turned away from Villa (a very hot club in LA) for wearing Ed Hardy. He just doesn’t know any better.
30/10/2008 at 11:35 am Permalink
http://www.honoluluadvertiser.com/article/20081030/BREAKING/81030018
“Are we all supposed to go buca buca buca and fall dead on the floor? Or are we supposed to have the ability to survive and do well?The hell with Wall Street. I’ll be here after this is over.”
http://www.youtube.com/watch?v=kMP__WRvv1Y
Common-Sixth Sense
30/10/2008 at 12:29 pm Permalink
Chris,
Great articles.
Wale dissing Ed Hardy is the single best thing I have ever read on the internet.
– MPM