The world’s best hotels are still offering hotel rates for a two-week stay, even though the economic downturn has cut their budgets.
The most expensive option still offered for an extended stay is the Galveston Bay Hotel and Resort.
Its $250 per night rate is the highest in the U.S., but even that’s still far below the average $1,300 per night rates offered in the industry.
The Galvestons’ rates also are one of the lowest in the country.
The rates range from $200 for the cheapest of the three hotels to $1.2 million for the most expensive.
Hotels aren’t the only ones making big profits, either.
Some of the country’s most luxurious hotels have been raising their rates.
In fact, the two most expensive hotels in the state of Texas have been doing so for more than a year.
The Hilton Grand Houston has been raising rates for its three-week stays at its $1 million price point.
That’s despite its $150 per night price tag.
The other two hotels, the Biltmore Inn and the Holiday Inn, both raised rates for two-night stays at $1 per night, although both of those rates were still below the industry average of $1 in the region.
Hotel industry insiders say they are getting the message, but there are some who remain unconvinced.
The Galvestins’ rate hike is another example of the hotel industry pushing prices too far.
“They are trying to make money on people who can’t afford it,” said one longtime hotelier.
“It’s a big mistake.”
One of the hotels, which is located in a town that is home to many immigrants, has been offering its hotel rates as an incentive to residents, but many of those who are staying there are struggling to make ends meet.
HotELs are also a big part of the local economy.
They bring in more than $50 billion a year in taxes and have created hundreds of thousands of jobs.
The industry has been one of Texas’ largest employers since the recession.
But in recent years, the industry has seen a steep decline in business as businesses and the number of employees have shrunk.
In 2016, the number fell to just over 2,400, down from 3,400 in 2013.