Orlando Hotel Competition from Vacation Homes
The Orlando Sentinel (1) recently noted that Orlando hotels are now facing the worst economic conditions since recordkeeping began over 20 years ago. These are business conditions possibly worse than the aftermath of 9/11.
We projected that many hotels in Orlando would be facing some type of systemic failure back in December of 2008 (2).
Checking rates for September 28th 2009 for one night, we identified several major luxury hotel brands offering rates under $99 directly on their websites. The irony is that thousands more branded new luxury hotel rooms have either recently opened or are just opening, further increasing supply in an oversaturated market.
Some related articles are claiming that as many as one in five hotels are now in some stage of foreclosure (3). Hotels are now also facing their most aggressive competition from timeshare rentals and vacation homes.
Orlando vacation homes can now be rented for the price of a typical hotel room, but offer multiple bedrooms, living spaces, full service kitchens and even private garages, pools and game rooms. Based on personal experience, once a consumer has rented a vacation home and understands the concept, they will not rent a hotel room again.
What does this mean for our readers? We think that booking a vacation home with a reputed and accredited vacation home management company is always the best value and solution for travelers.
