If you’re looking to construct a hotel in Daytona Beach, you may want to hear more about the low bookings in October this year. Daytona Beach hosts Biketoberfest each year, but hoteliers have reported lower-than-typical bookings in 2019.
Part of the reason, it’s believed, is that the impact of Hurricane Dorian is still present. Annually, tens of thousands of motorcyclists come to the signature event, but fewer than normal are expected to arrive in 2019.
Hoteliers report that their bookings are down around 15 to 20%. Some believe that this is a result of the aftermath of the hurricane, but others believe it’s simply a declining interest in the event among the aging demographic of motorcyclists.
In some instances, hoteliers are reporting boosts in their own bookings, like at the Hilton Daytona Beach Oceanfront Resort. Thought the resort is not as close to the location, it seems that its pricing leaves guests satisfied.
Hurricane Dorian could take some of the blame because it has had an impact on the hotel industry. It has cost hotels over $21 million in canceled reservations, based on data from mid-September.
Bookings are slow, but that can also have to do with the number of hotels in the region. With many bargains and hotel rooms available, guests may just be waiting to book until the last minute. In Daytona Beach, the supply may be outweighing demand, leaving many hoteliers without guests to serve.
Looking into local areas is the key to choosing the right investments and construction goals. If you are wanting to construct a new hotel, it would be wise to watch this market carefully.