∙ Hotel losses mount, hurting city’s coffers [SFGate]
∙ Hotels stay booked amid recession [Examiner]
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∙ Hotel losses mount, hurting city’s coffers [SFGate]
∙ Hotels stay booked amid recession [Examiner]
Yep, interesting spin on the same story and numbers.
#1 (Sfgate) = It’s bad!
#2 (Examiner) = It could be worse!
So we’ve changed from the “ownership society” to the “profitless society”, where the only way to stay in business is to mark everything down to zero profit.
The hotels with an “image” that prohibits them from marking down their rooms for fear of damaging the brand are losing insane amounts of business. The other hotels with less of an image to protect are essentially marking rooms down to their variable costs, ensuring a return of zero.
“So we’ve changed from the “ownership society” to the “profitless society”, where the only way to stay in business is to mark everything down to zero profit.”
Yeah, but we’ll make it up on volume.
Yeah, but we’ll make it up on volume.
And everyone has a share (of the Syndicate)