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Old 02-09-2010, 11:33 AM
 
Location: Historic Central Phoenix
652 posts, read 2,613,439 times
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The economic impact will help the lagging hotel and restaurant market but lets not kid ourselves, people that watch wrestling, mma, etc are not big spenders. There was one night I was at a sports bar/restaurant and unbeknownst to me, they had rented a pay per view of some fight that night. The fight fans started coming in bringing their own cups to fill up with fountain soda, they weren't ordering food or beer, they were just there to watch the pay per view fight and steal Pepsi.

Something like the Fiesta Bowl, Super Bowl, or even the NBA All Star Game would probably have more of an impact outside of the event ticket sales because those attendees are more likely to splurge on food/drinks/entertainment.

Either way it's good to have major entertainment events like that, but it's not the ideal clientelle in my opinion.

Last edited by nickw252; 02-09-2010 at 11:42 AM..
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Old 02-09-2010, 12:25 PM
 
Location: Phoenix
2,897 posts, read 9,991,566 times
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Quote:
Originally Posted by nickw252 View Post
The economic impact will help the lagging hotel and restaurant market but lets not kid ourselves, people that watch wrestling, mma, etc are not big spenders. There was one night I was at a sports bar/restaurant and unbeknownst to me, they had rented a pay per view of some fight that night. The fight fans started coming in bringing their own cups to fill up with fountain soda, they weren't ordering food or beer, they were just there to watch the pay per view fight and steal Pepsi.

Something like the Fiesta Bowl, Super Bowl, or even the NBA All Star Game would probably have more of an impact outside of the event ticket sales because those attendees are more likely to splurge on food/drinks/entertainment.

Either way it's good to have major entertainment events like that, but it's not the ideal clientelle in my opinion.
What do you mean lagging hotel market? I work in the hospitality industry, and the hotel I worked at before, and the one I work at now, have been sold out consistently.
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Old 02-09-2010, 12:30 PM
 
Location: Pinal County, Arizona
25,098 posts, read 37,957,876 times
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Many hotels report high vacancy rates - unusually so especially this time of year.

This type of event will help many of those properties and will help the local communities - especially those near the main event, with the tax revenues and the local businesses - restaurants, shopping etc.
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Old 02-09-2010, 12:36 PM
 
Location: Phoenix
2,897 posts, read 9,991,566 times
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Quote:
Originally Posted by Greatday View Post
Many hotels report high vacancy rates - unusually so especially this time of year.

This type of event will help many of those properties and will help the local communities - especially those near the main event, with the tax revenues and the local businesses - restaurants, shopping etc.
Maybe some of the lower end hotels, but this is the "peak" season for business travelers, usually here for conventions and meetings.
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Old 02-09-2010, 12:38 PM
 
Location: Pinal County, Arizona
25,098 posts, read 37,957,876 times
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Quote:
Originally Posted by KarmaPhx View Post
Maybe some of the lower end hotels, but this is the "peak" season for business travelers, usually here for conventions and meetings.
The number of conventions and meeting is down.

There was a report over the weekend that the Phoenix Convention Center has seen a lot of cancellations of conventions and meetings for 2010 and 2011 due to the economy.

Other meeting planners reporting similar
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Old 02-09-2010, 01:42 PM
 
9,092 posts, read 18,390,275 times
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Hospitality is hurting - vacancies are up, rates are down - conventions and meetings are down

here is a good article from this summer - but a lot of it still holds true to this year

Phoenix Bears the Brunt of Hotel Market's Steep Downturn - WSJ.com

Quote:
"Phoenix suffers from the dual challenges of overbuilding and shrinking demand due to the national drop-off in corporate conferences," said David Loeb, a hotel-industry analyst with Robert W. Baird & Co. "All of this means that Phoenix's hotel market has experienced one of the steepest downturns among the big markets."
Quote:
Hotel occupancy in Phoenix was 58% in April, and revenue per available room declined 28% from April 2008 to April 2009, according to Smith Travel Research. Phoenix's occupancy for the first four months of this year was the lowest the market has reported in the first third of any year since Smith Travel began tracking the figures in 1987.
Mod cut
"summer specials" went into october this year and there have been a lot more promos and reachable rates this winter

here is one from this summer

Quote:
In metro Phoenix, occupancy in July 2009 dropped 7.5 percent from July 2008 to 44.7 percent. Average daily rate dropped by 10.3 percent to $74.71 and revenue per available room dropped by 17.1 percent to $33.40, figures show.
Occupancy figures show Phoenix-area hotels still caught in recession̢۪s grip - Phoenix Business Journal:

here is a really recent one for november data that is specific to scottsdale

Quote:
For November, the most recent data available, the average daily room rate was $133.11, a decrease of nearly 18 percent from the same month in 2008.
On the bright side, Scottsdale’s occupancy increased 6.5 percent to 60.6 percent from one year earlier. But revenue per available room decreased 12.4 percent year-over-year to $80.62.
Mod Cut
Scottsdale hotel occupancy up, but rates continue decline - Phoenix Business Journal:

nationwide it looks like the numbers are still way down, with luxury hotels starting to get some traction gaining 5-8% a month over the prior few months (scottsdale lagging, but some of that is explained by weather compared to the nation - now that we are in our "summer" it looks like they are keeping pace)

revenue and rate are still way down though even for luxury places nationwide

Last edited by Grannysroost; 02-09-2010 at 03:43 PM.. Reason: Only 2 to 3 lines (snippet) allowed to be quoted with the link.
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Old 02-09-2010, 02:56 PM
 
10,719 posts, read 19,520,777 times
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Quote:
Originally Posted by KarmaPhx View Post
Maybe some of the lower end hotels, but this is the "peak" season for business travelers, usually here for conventions and meetings.
A "lower end hotel" is still a hotel and is a part of our economy. And "lower end hotel" is subjective and essentially means nothing. These aren't shady motels that rent by the hour. Those "low end hotels" usually charge over $100 a night and are fairly new and nice.
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Old 02-09-2010, 03:11 PM
 
Location: Phoenix
2,897 posts, read 9,991,566 times
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Quote:
Originally Posted by Greatday View Post
The number of conventions and meeting is down.

There was a report over the weekend that the Phoenix Convention Center has seen a lot of cancellations of conventions and meetings for 2010 and 2011 due to the economy.

Other meeting planners reporting similar
No, it's not, if anything it's up from last year. 2009 was a bad year for hospitality at the beginning of the year, but picked up and has been steady for the last 6-8 months, like I said many hotels have been selling out on a regular basis.

People don't go to a Super 8 for their convention, which is why some of those hotels are hurting, but like any hotel they get their usual clientele, in this case mostly truckers, who still have to work and sleep somewhere.

As for the Phoenix Convention Center it makes sense, it's not a hotel, and their prices are outrageous compared to hotels.

Like I said before I have experienced this all first hand, and business is booming for the hospitality industry.
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Old 02-09-2010, 03:11 PM
 
Location: Sonoran Desert
37,567 posts, read 47,949,747 times
Reputation: 26296
Quote:
Originally Posted by azriverfan. View Post
A "lower end hotel" is still a hotel and is a part of our economy. And "lower end hotel" is subjective and essentially means nothing. These aren't shady motels that rent by the hour. Those "low end hotels" usually charge over $100 a night and are fairly new and nice.
I wonder how many of these people who feel so superior to wresting fans could afford to travel across the country or halfway around the world and stay in a Phoenix hotel at peak time for up to a week, eat out, buy expensive tickets and souvenirs etc so see their "sport". I think a lot of ignorant stereotyping is at work in this thread.
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Old 02-09-2010, 03:28 PM
 
10,719 posts, read 19,520,777 times
Reputation: 10015
Quote:
Originally Posted by Ponderosa View Post
I wonder how many of these people who feel so superior to wresting fans could afford to travel across the country or halfway around the world and stay in a Phoenix hotel at peak time for up to a week, eat out, buy expensive tickets and souvenirs etc so see their "sport". I think a lot of ignorant stereotyping is at work in this thread.
I agree, I think people have lost the concept and value of money. Spending over a $100 a night on a hotel is not cheap. If it's not the Phoenician, JW Mariott, or the Four Seasons then it must be some "lowly" hotel even though they are charging $120 per night???? In the political forum, they had a thread asking if earning 275K per year was rich. Even though I showed people that 275K is in the 98.8% percentile of all earners and less than 1.5% of the work force earns that income, people still felt that wasn't a lot of money. It's this mentality that got our country into this financial mess as people were so concerned with competing with the Jones that they bought houses they couldn't afford and lived above their means until they got into trouble.
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