Panic in Paradise?
Here we are in the midst of the coldest winter in years - the kind of winter that resort destinations bank on - but so far this year the tourist isn’t traveling. The economy is weak, millions are unemployed and there seems to be no end in sight. Even Tampa Bay was not sold out on Superbowl Sunday. Some of the most popular resort destinations are reporting losses. Las Vegas casinos report a 69% drop in revenue, Hawaii hotels have droped to 58% occupancy and even free nights are not bringing in the tourists.
Armed with price cuts to woo cash-strapped travelers, the nation’s tourist destinations are offering deep discounts and freezing gate prices. Imagine staying in an ocean front hotel of vacation rental for $95/night, or at the Bellagio in Las Vegas for $129/night. Immediately after the new year resorts were overing steep discounts but as we roll into February - the highest of the high season months - price slashing is taking on new meaning.
Go ahead and get out there! You may not see these kinds of prices for a long, long while.