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hello
Does this mean I can get a cheap rate at Temptation Island now?
No Pony for Paris H.
How are the cruise lines staying in business ?
bearly writes:
How are the cruise lines staying in business ?
Barely
In case this is not already posted:
The WSJ is running a story about "reverse redlining", the fallout, and how Rep Joe Baca pushed it:
Housing Push for Hispanics Spawns Wave of Foreclosures - WSJ.com
Been looking at the charts for CCL and RCL recently. Made a big comeback within the last few months. Will the cruise lines be hit hard like the hotels? Shorting opportunity?
W00T writes:
"Will the cruise lines be hit hard like the hotels?"
Turn it around and ask: "how could they not be?"
I guess the better question is... has this been priced in yet?
we're no longer cliff diving. we're sand sledding!
http://4.bp.blogspot.com/_pMscxxELHEg/SV6hns2telI/AAAAAAAAEJA/w_g9VvWU8Vw/s1600-h/WhiteSands.jpg
digress a bit :
I recommend Joe Nocera's column from 1/4/9 NYT
Risk Mismanagement
By JOE NOCERA
Talks about Var at length
anyone surprised at Ford sales...down 32%
I love VAR speak. It's like ben stiller in simple jack. Full retard.
"Sandystructures AutoGroup writes:
anyone surprised at Ford sales...down 32%"
and Subaru sales are actually up for 2008
The Cruise liner's could'nt even fill rooms during kristina.
Know why?
Well, duh. There was certainly a motel bubble going on in my podunk home town. They'll make good transitional housing for ex-prisonors.
I just got off the phone - it seems as if the cruise lines will be losing at least two passengers this year, as in the words of my father, his portfolio was 'crushed.' So instead, they will be flying to Europe, spend a few days in Paris, enjoy the train ride through the Chunnel, experience German Christmas markets, things like that.
Europe is going to be crushed too, but who would have thought that travelling to Europe would be seen as a viable alternative to a cruise for Americans? Surprised me, to be honest. And that pattern may have been true with at least one other couple my father's age, who spent a couple of weeks in the Netherlands and Belgium last spring. They, at least, had no family connection at all, though I also don't think their portfolio was crushed.
Talk about unexpected anecdotal information.
Mostest every company I know (including mine, and mine's huge) has instituted some form of a travel freeze. Our's is a hard cap--no exceptions, which may be rare. But I'm doubting it.
Go check out prices of hotels in Vegas. If you were there, say, 2 years ago, be careful not to let your jaw hit the table when you see the current prices. Unreal.
No Pony for Paris H.
EZRider | 01.05.09 - 12:54 pm | #
Didn't they sell out to a PE firm last year? If so she got her pony early...
Krugman and Obama want bury America in debt, as they offer a solution to use for debt to bail out more credit default. Hotels will fail at an exponential rate with this sort of stupidity from our leaders!
Blowing Past the Bailouts $1 Trillion Barrier
Nobel Prize-winning economist Paul Krugman wants the government stimulus to be bigger than $1 trillion. He has his wish already.
On CBSs Face the Nation, Krugman urged Obama adviser David Axelrod to think larger than the $675 billion to $775 billion stimulus package the Obama administration is considering. Id like to see it bigger, Krugman said. I understand that theres difficulty in actually spending that much money, and Itheyre also afraid of theof the T word. Theyre afraid of a trillion dollar for the two-year number.
But the U.S. Treasury, the most active deal maker of 2008, is hardly afraid of the T word. In fact, it already has surpassed it. Just a few weeks ago, Barry Ritholtz estimated the real cost of the bailout so farso farat $4.65 trillion.
Crystal, china maker Waterford Wedgwood collapses
"Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed."
in all seriousness, when the fed has to reel back in all the money/credit it has extended, how does that transition happen in a way that doesn't crush the economy. what is the theory of how the money/credit will be reeled in
How are the cruise lines staying in business ?
Offer unbelievable discounts - place cots in the engine room and sleeping bags in the hallway. Once on board, ask the customers if they'd like to upgrade to a room for a small fee.
["Will the cruise lines be hit hard like the hotels?"
Turn it around and ask: "how could they not be?"
sm_landlord]
They benefit from decreased fuel costs but they have been adding capacity like mad over the past 5yrs to accommodate all the cash-out-refi/HELOC under 40 customers. That demographic, is broke/unemployed & will be vacationing sleeping in their vehicles. Doubt a bailout is in the works for them. I made some $$$ there last year.
Maybe I need to recalibrate for '09 ?
I think we could make the case that the Feds should borrow as much as possible for a stimulus package (hopefully $1.5 trillion!) because after 2009, they ain't gonna be able to borrow a nickel.
Gobama!
We need a Hotel and Cruise Czar.
Turn it around and ask: "how could they not be?"
sm_landlord | Homepage | 01.05.09 - 1:01 pm | #
Turn it around and ask: "how could they not be?"
Seems plausible to me. Business travelers can cut back on international travel and teleconference instead, cutting costs no matter how low rates go, affecting Hotels more severly than cruise lines who can mothball ships and lower rates to get enough money to stay "afloat."
SIPC is flat broke. No protection for investors ? Can't let the false hopes die just yet.
Bailout #7592 in a bill yet?
""Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed."
Sounds like a bear ran through the china and crystal shop. Beware the bear, not the bull.
[Hotels more severly than cruise lines who can mothball ships and lower rates to get enough money to stay "afloat."
Mothball ships ? They have debt service up the ass on those ships & require serious cash flow out of them. Lenders may be mothballing them and cruise ships are sushi inventory so mothballing doesn't work well for sushi...
They have debt service up the ass
bearly | 01.05.09 - 1:35 pm | #
So, they just need to reorg as a bank holding company, to get some ZIRP and TARP and then thier debt service goew to zero?
"Mothball ships ?"
Wouldn't it be ratball?
There's always going to be some baseline demand for hotel rooms due to business travel, travel necessitated by family events, etc. No such baseline for cruise travel, it's truly a discretionary expenditure. I think the analogy would be cars to motorcycles (especially Harleys), with motorcycles being like cruise trips.
The thing I'm uncertain about is whether the low-end lodging or high-end hotels are going to be hit worse. Will people still travel recreationally, except stay in cheaper lodging? Or will discretionary spending become a realm of the rich and high-end hotels hold up?
In booking a trip to New Orleans (in a few weeks) I saw rates at supposedly untouchable (price-wise) Hotels in the high $100 range. This was mid-week pre-mardi gras. I will provide a trip report after said trip is over.
Hotels that were recommended to me were well below what people thought they would be at. Case in point Royal Orleans in French Qtr. had been quoted to me at well over $300 a night. Booked in for a premium room at below $200. Keep in mind this is mid-week (when I always travel) but it really speaks to a larger issue these places have moving into this supposed 'recovery'.
Any suggestions for some places to go in NOLA? (other than the tourist traps I will stay well away from).
Ciao
MS
Hawaii is so screwed.
I drove to my parents' home for the holidays this year and got overnight rates I had never seen before on the same trip in the past. Hotel/motels are definitely hurting.
Mad Mullah(Unrated) writes:
\tHawaii is so screwed.
Mad Mullah | 01.05.09 - 1:47 pm | #
Probably they'll feel it hard. Their only slim hope is the possibility of picking up travelers who, in better times, might have vacationed in Aussieland instead.
I know some islanders blame a lot of their problems on tourism. Wonder what they'll blame them on if the touries stay home?
o a chance hawaii is screwed with O in charge.
the cheapest fares in america will be to HI.
TNX, TBT.
So far, the higher end hotel chains resisted lowering their prices, in order to protect their brand. We shall see. The high end rode the wave of cheap money into the stratosphere, and the low end followed on its tails. Low-end prices have reached dimensions that are in no way justifiable. So everyone will be scrambling, I think: three star travelers moving up, and three star prices dropping. Add the oversupply, and I expect a drop in 'revenue per room' to be more than 8 %.
Expect "amenities" to be eliminated, but that is not a bad thing. Have had lousy room service meals in my life, better just offer one sandwich if anyone needs to eat late at night. The American insistence to have 'choice' is what dilutes the quality of most everything.
jus sayin writes:
no a chance hawaii is screwed with O in charge.
the cheapest fares in america will be to HI.
Uh-huh, so... you're expecting Obama is going to force Americans to take vacations to HI? Or force the airlines to deep discount tickets there?
I stayed downtown NO during Mardi Gras a few years ago, and the sights were incredible. I walked to the sidewalk, looked around, and just turned around. These people were scary.
You know what's strange? I'm looking to spend a week in Detroit and I can't find a hotel in town for less than about $50/night, no hostels even. Last time I went to San Francisco I stayed in a hostel right in town for $27/night. Even stranger, if I book using my Irish credit card and pay in Euro I get a better rate even after conversion. Detroit don't want dollars.
"I'm looking to spend a week in Detroit and I can't find a hotel in town for less than about $50/night, no hostels even."
Just locate a foreclosed home on the MLS and stay there for free. Nothing wrong with being a traveling bando.
"I'm looking to spend a week in Detroit and I can't find a hotel in town for less than about $50/night, no hostels even."
Just locate a foreclosed home on the MLS and stay there for free. Nothing wrong with being a traveling bando.
LOL! I'd try it once just for the experience and anecdote value.
"Just locate a foreclosed home on the MLS and stay there for free. Nothing wrong with being a traveling bando."
You know, I've seriously considered doing just that. The problem would be getting my handgun there with me. I'm travelling by bus from Arizona. I'm doing the full on poverty tourism tour. If I bring my 280lb redneck BIL that might work. I'm a 150lb Irishman. I've squatted in London, but Detroit? Not so sure.
I don't think I've spent more than $75 a night in my life for a room.
Yeah, sometimes the service is crummy and there is noisy A/C or whatever. I don't care. Not enough to spend hundreds of dollars more, anyway.
Travel expense is verrrrry elastic when people need to scrimp. Gonna be ugly out there.
"Travel expense is verrrrry elastic when people need to scrimp. Gonna be ugly out there.
Mozo Maz"
Good, because I like to travel and get great deals. Finding this Vegas hotel deal war enticing. Even though I don't like to gamble too much, I might go there for the food and entertainment.
"I don't think I've spent more than $75 a night in my life for a room."
Where have you been staying for less than $75? Sure if I'm in Gallup NM I'll stay at the $22.50/night fleabag motel, but in many cities that ain't possible. In London, you'll be hard pressed to get a shared dorm in a hostel for that kind of money. A crappy private room en suite will set you back north of $150.
I'm a cheap bastard and my holidays (even with my wife) mostly involve sleeping in the back of the pickup but sometimes you need a room.
Any suggestions for some places to go in NOLA? (other than the tourist traps I will stay well away from).
Ciao
MS
MS | 01.05.09 - 1:40 pm |
This suggestion is going to fall into the "tourist trap" arena but it's great fun.
Go to a cooking demo/dinner at the New Orleans School of Cooking in the Quarter. Book a demo with Kevin Belton if you can, the man is a great cook and one of the biggest men I have ever seen (former pro football player).
The New Orleans School of Cooking - Teaching the Fun, Food & Folklore of Louisiana Cooking - Kevin Belton
It looks like they're only doing lunches right now but it's $27.00 well spent.
You'll eat it all and they'll give you the recipes when it's over. Fabulous food, fun time. All the Abita you can drink. : ) Whenever I make their bread pudding and take it to work, it's gone in 10 minutes. People see me walk in with the baking dish and start spreading the word, they're waiting for it before I can set my purse down.
If you have access to a car get out into Cajun country and find some bar with food and a band. Good times.
If you're staying in the Quarter, I've been told you can walk freely anywhere inside it but do not cross N. Rampart St...and that was pre-Katrina advice.
Those were my two favorite things that we did when I was there several years ago. Here's a link from the local paper for other things you might be interested in doing while you're there.
Living and Lifestyles - New Orleans - NOLA.com
bob mologna | 01.05.09 - 2:44 pm |
You could post a question at this forum of Detroiters and see if they can come up with some suggestions for you. Discuss Detroit: DISCUSS DETROIT!
This thread, in particular, had some interesting things to do while there posted by a recent visitor who was checking out real estate in the area.
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and this one from a suburbanite who was planning on taking out of town guests into the city for a day/night pub crawl was interesting too.
Discuss Detroit: Going Downtown tomorrow, need ideas!
It's a pretty lively forum, it actually made me want to visit Detroit at some point in the future (like in the summer months).
Another case where an industry that charges ridiculous prices that are way out of the range of most people blames its problems on the economy.
And talk about bad business practices. They turn down people with cash. You go into a fancy hotel with cash in hand, and they won't accept it. Got to have a credit card. No wonder they're in trouble. Maybe now they'll get rid of the MBAs and get in some people who understand how business works: if a customer has money and wants to pay, then you accept the money.