Quote:
Originally Posted by seamusmcduff
This is a ridiculous item to have in your platform. No one would be risking investment in hotel construction if there wasn't at the very least a perceived need for them. The price of hotels here seems to heavily suggest that they are needed.
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I wouldn't go quite that far. Didn't they perceive a huge need for rooms for FIFA and look what happened - initial numbers reported as 20% below normal and rates about the same as normal. And don't we have thousands of unsold condos from those shrewd business people who risked investing in building those due to perceived demand?
Quote:
Originally Posted by seamusmcduff
What's the downside anyways if they end up overbuilding, lower hotel prices? Oh the horror. They can give all the reasons they want, but this just makes it clear the existing hotel owners are in their pocket
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Lower room rates could make those projects not viable.
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