Hampton Inn thinks it is the Ritz Carlton
A lot of time when we are having our condo board meetings, we joke about large expenses. Like if someone wants to spend $5,000 on a project and we only want to spend $1000, we'll say, "We want to be the Ritz Carlton on a Hamton Inn budget." And everyone laughs.
Well, according to newspaper reports, the Coconut Grove Hampton Inn wants to be the Ritz Carlton, or at least charge room rates like the Ritz Carlton. They plan on charging up to $649.00 per room, up from $199.00 per room, during Super Bowl week. Is this gouging?
Well, according to newspaper reports, the Coconut Grove Hampton Inn wants to be the Ritz Carlton, or at least charge room rates like the Ritz Carlton. They plan on charging up to $649.00 per room, up from $199.00 per room, during Super Bowl week. Is this gouging?
posted by Tom Falco at 7:59 AM
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6 Comments:
Its not gouging, its called "capitalizing on a unique situation". See also, airline ticket prices during the holidays... Yes, it sucks, but as long as there is demand (which will be extremely high for the SuperBowl) it will work.
Blind Mind is right.
An example of price gouging is charging ten dollars for a bag of ice after a hurricane.
In this situation, very few low-income families will be flying into Miami to attend the Super Bowl.
Florida's gouging statute only applies to states of emergency (i.e., substantially raising prices following a hurricane warning, for example), not to regular market forces.
That's not to say that the Governor couldn't declare a state of emergency upon learning that so many rich football fans were about to descend upon us.
damn, i'm going to rent out my place and stay at a friends. after i keg-proof everything i own.
Nope. It isn't. It's market economy. Ever heard of the NYSE? Nasdaq?
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