The bell hop's tears keep fallin'
The Portland hotel market is really in the tank. It turns out that when it comes to declining room rates, we're no. 5 in the nation.
So tell Aunt Martha in Poughkeepsie to get out here for Rose Festival! And tell your city council members that Mayor Creepy and his friends in the developer Mafia need to kill their Convention Center white elephant project.
| Posted at 10:41 AM | Permalink |
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Comments (7)
perhaps if the mayor hosted a NAMBLA convention in portland, hotel occupancy rates would rise...my apologies in advance.
Posted by gl | May 12, 2009 12:21 PM
Somebody from Bloomberg.com wrote a gushing article about the Nines Hotel last week. Of course, he failed to mention the declining room rates, the low number of guests or the fact that the hotel has stopped paying the PDC for their loan.
Posted by Dave A. | May 12, 2009 12:28 PM
Definitely a bad scenario when downtown, 3 or 4 star hotels are competing on rates with Comfort Inns and Best Westerns... ($99 rooms!)
Posted by Ranz | May 12, 2009 1:25 PM
The only way The Nines will ever pencil out in this economy is if they convert it to a LaQuinta Inn and replace the Macy's below with an Applebee's.
Posted by Ranz | May 12, 2009 1:27 PM
Sam and his bandits didn't ever intend to build a CC hotel. It's all just more slight of hand and diversion in order to tie up valuable land for the development mafia until they decide what they really want to do with it. AND to keep the millions flowing to all the shadowy "consultants" and other sketchy crony leeches who live off the planning and consulting gravy train.
Posted by Ranz | May 12, 2009 1:35 PM
I was wondering about that. I have a book signing gig coming up next month out in St. Johns, and I was amazed at how cheap downtown hotel rooms were running.
Posted by Texas Triffid Ranch | May 12, 2009 2:08 PM
Gosh, I just paid for a Days Inn motel room in Eugene for four weekdays without one single event going on at the U of O, or in town, and I paid more than fancy downtown Portland hotel rates. What gives? The Nines is even subsidized at the tune of $42 Million by the taxpayers plus they have a 10 year property tax freeze.
Well, I guess it's just another form of "free" enterprise.
Posted by Lee | May 12, 2009 3:16 PM