The views expressed in any article published in this blog are the author's own and do not necessarily reflect the views of Joseph Foster or Bob Lupoli.

Monday, November 22, 2010

Hotel Occupancy: Things must be bad in America

Bob: The US economy was sliding down hill on a gradual basis unnoticed until the housing bubble busted. With deindustrialization gaining speed many middle class Americans began to be impacted, what saved them was high credit card and home equity line of  credit living. When the balloon busted the economy began to collapse and picked up speed. Here are some thoughts prior to the bubble bursting,  I was staying at the Bellagio In Las Vegas and during my stay became acquainted with the hotel manager, to my surprised he told me one third of the rooms are shut down, since it is impossible to achieve full occupancy. What this manager told me give me an insight as to where the economy is heading, sometimes if you keep your ears and eyes open you will get the information as to the future economic trend of the county one year ahead of the news media.

I am heading to Miami in December and got a hell of a deal in a four star beach hotel, Then as I waited for a car rental deal to pop up, bingo Price club began to advertise car rental deals. Budget Miami, Florida weekly rate normally $213.00 per week now $132.00. Price does not include Taxes and Insurance. - Joe

Joe: see graph below on hotel occupancy thru July 2010. Apparently 2009 was the worst year since the Great Depression.  Also follow this link for hotel occupancy as an economic indicator:  – Bob

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