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I don't think so.
http://starbulletin.com/2008/07/23/news/story01.html
The hotel industry in Hawaii needs to give "real" savings to potential tourists....not a free tee-shirt and a $5.00 off coupon. How stupid do they think they are?
We need to see hotel prices slashed in half....but not with state money allowing them to do that.
As for the airlines....their airfares are based on the price of jet fuel...they can't get lower without the price of oil getting lower which isn't going to happen
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I agree! The State shouldn't bail out the hotels. All the hotels need to do is cut the salaries of their workers and buy cheaper foreign products instead of the more expensive local goods. That savings can be passed to the tourist.
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The hotels have tons of empty rooms. They should slash the prices of those empty rooms and offer MUCH BETTER deals to residents. Last year the Hilton was offering $149.00 a night as a kama'aina rate. I just heard $179.00 on the radio this morning for kama'aina.
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So many Chrysler's, so little time. I think gov-co already has it's hands full with Freddie and Fannie Mae.
Puna: Our roosters crow first
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The hotels run at about 40% occupancy here in Kona. (My wife is the Director of Sales for one of them, so my number is from a reliable source.) She said their break even level is 50% occupancy, anything above that is profit. The owners of these hotels were making huge profit during the past 10 years, they don't need to be bailed out.
Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
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When times were good and occupancy up around 80% these guys jacked up their rates to the point that only the well-heeled could afford them. Now that things are tough, they want to be rescued instead of lowering their rates to get occupancy up. No way. The State is going to be needing that money for human services anyway.
Cheers,
Jerry
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You have to take the bad with the good, well now its bad should have saved some that $$$$$ from the good years!
I like it here in the shallow end of the gene pool
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It looks like the hotels are asking the state to increase the tourism marketing budget, not for a wholesale bailout like Fannie Mae.
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Seems like the hotels could offer the rooms to their staff to use so they wouldn't have to drive across the island every night. If folks could stay there during the week, they could probably afford to work for less. Maybe give kamaaina weekly or monthly rates or make part of the hotel rooms into condos.
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
