posted by orlandovacationhome on Apr 3
Orlando Hotel 2009 Revenues Drop at Catastrophic Rates Year Over Year : More Layoffs and Systemic Failure Certain
Today, Orlando tourism leaders looked concerned as they appeared on local news outlets (1) and indicated that hotel room revenue has plummeted. For February 2009, Orlando hotel room revenues were down 28% over February 2008.
We have an unfortunate prediction of our own, it’s going to get worse before it gets better. Our interviews with short term rental General Managers and Sales Directors indicate that the number of visitors to Orlando will continue to decline at an accelerated pace over last year’s benchmark. Our only indication that things might begin to trough would be recent consumer spending numbers that do lend a ray of hope for the economy.
We clearly forecasted these declines in previous posts and were criticized for being too pessimistic. Rest assured, this blog has no agenda other than trying to provide clear analysis and opinion for our readers.
Click on any of the links below to see our previous forecasts and analysis:
- Dire consequences forecast UK market to Orlando 2009
- Orlando hotels face financial disaster in 2009
- Orlando hospitality industry faces systemic failure in 2009
- Short Term Rental Revenue Forecast for Orlando 2009
It’s not pretty for the Orlando economy at the moment, and will most likely get sigificantly worse. However, if you are a tourist visiting Orlando, the rates at hotels and vacation homes have never been a better value.
As we always note, no one can perfectly predict what will happen in the future, including us. As our disclaimer indicates, always consider the authors of this blog to be incompetent.
Tags: florida forecast | forecast | General Managers | orlando economic forecast | orlando economy | Orlando hotel room revenues | Orlando tourism | orlando tourism trends | Sales Directors | vacation home rental forecast
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