Hotels Seeing Green Over Inauguration
A couple of weeks ago, we told you about the potential problems in the inauguration housing market in which thousands of Washington-area residents are trying to rent out their homes for the week of Jan. 20. In today's Metro section, we bring word of a related property market in which rates are also soaring for the inaugural: hotels.
The key paragraphs:
With skyrocketing demand for inauguration week housing, Washington-area hotels are enjoying the kind of bargaining power that is usually reserved for hotels in cities that play host to Super Bowls, Final Four college basketball tournaments and soccer's international World Cup, industry experts said.
Some hotels have doubled or tripled usual prices, required customers to stay at least four nights and collected full payment up front, no refunds allowed. Even during Washington's busiest times, such as major conventions or protest marches on the Mall, hotels have usually been able to demand minimum stays of just two nights, experts said.
In the story, you'll find two examples of consumers who made reservations for low rates months ago, only to be told they owed more because the rates had doubled after Obama's general election victory. Read the whole story here.
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