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Hospitality Leadership Through Learning
Hotels' distress in FL could lure buyers | miamiherald.com
Published: 2009-11-03 11:27:21
http://www.miamiherald.com/news/southflorida/story/1313142.h...
A year ago, the average Shore Club room took in nearly $200 a night during the slow summer travel season. This summer, the hotel barely generated $100 per room. Add in revenue from the bar and restaurants -- favorite stops for celebrities on the South Beach party circuit -- and the numbers get worse: Profits plunged 113 percent at the Shore Club this summer, a rough stretch that saw the 309-room hotel fall behind on its mortgage.
