‘Orlando’s tourism-dependent economy’
Having a diverse portfolio works on the Street and in the streets.
Orlando-area hotels are having a lonely summer.
http://www.orlandosentinel.com/news/local/orl-orlando-hotels-august-092209,0,7466685.story
America is the Magic Kingdom now. No need to go to Disney World anymore.
How many states and cities have gambled big taxpayer dollars on tourism?? Convention centers galore and taxfunded hotels in some of them.
great foresight... NOT
Summer in Orlando can be absolutely miserable because of the heat and humidity. Any other season is better.
The reporter is kidding, right?
Thank goodness Florida doesn’t need the revenue they could get from drilling for oil in the Gulf. They would rather see Cuba get that money. Those empty beaches are pristine, though.
Ah, I thought the recession was “technically” over.
Too much supply means hotels will close. There will be no demand until the bums in Congress and the WH are thrown out.
I avoid the Rat like the plague, but my sister just got a package deal at DisneyWorld that cost the same as when we went there as children in the 1980s.
Most of these folks are low-skilled people who would rather work than sponge off the system. Hoteliers, as a group, are really good at promoting from within, educating their staff, and providing folks with opportunities to advance based on their work ethic. Contrary to what others have claimed, the hotels VET their staff, and do not use "day laborers." The liability is too high to hire illegals.
This does not include senior level staff (managers, etc.), who usually are college graduates.
As occupancy rates plummet, expect to see a lot more people hitting the unemployment roles.
Local municipalities get a lot of revenue from the hospitality industry. HOT, in certain destinations, contributes substantially to the local budget.
The only other time we saw numbers like this was POST-911.
It's bad, and it's going to get worse. Didn't Bambi's crew claim that the recession is over? BS. Hospitality is the LAST to recover. When their numbers are up again, then it's over.
Obama did demand that corporations not have conventions for customers and employees.
But 58%! There are going to some really run down buildings in about 5 years.
58%! That is nuclear. Too bad, Orlanda and surrounding are really nice.
On the other hand, we are coming into the Palm Beach season for parties. May be a good time to get some really great deals, like an ocean side suite at the Breakers, some extra chocolate on your pillows at night and complimentary bottle of champagne.(I would prefer a complimentary bottle Kelt but that’s just me) All for $299 per night!
Oh and free use of the Bentley while you have dinner and party on Worth Avenue?
I hear this all the time, but my wife and I just tried to book the Disney Floridian in CA over a weekend in OCT (I realize, not Orlando) and there wasn’t a single room available. So someone has money.
“Rooms that we rented last year for $50, we’re now renting for $30,” said Rizwan Saferali, owner of the Super 8 Kissimmee Suites on Vine Street”
LOL...I used to live about 8 mins from this place...it is a hell hole.
My wife and I did score an incredible deal for our anniversary in Orlando at Shingle Creek...they had 14% occupancy the night we were there. Ghost town.
Well, the solution seems clear: raise the occupancy tax. My wife recently attended a convention in Palm Springs. The hotel room rate was reduced to $99 because of ongoing construction. But with occupancy tax it came to $123, a full 25% more. Orlando should reap big profits for a while until people stop visiting because of the high taxes.