On Saturday I had a chance to meet with a representative from the New Orleans Convention Company Inc. (NOCCI), the company that manages the Bayou Classic. The representative told me that New Orleans area hotels reported an occupancy rate of 93 percent for last year’s Bayou Classic.
I am not an expert by any means in the area of hotel and restaurant management, but a 93 percent hotel occupancy rate is excellent. I mentioned this because some have argued that if some hotels would drop their rates, it could entice more people to visit New Orleans and potentially increase game day attendance. However, if we apply the basic economic rules of supply and demand it’s not surprising that area hotels refuse to drop their rates when they can get a 93 percent occupancy rate.
With this information mind, does this change your view about the BC? Could it be that people are going to New Orleans for the weekend, but simply refuse to go to the football game?
Thoughts?
I am not an expert by any means in the area of hotel and restaurant management, but a 93 percent hotel occupancy rate is excellent. I mentioned this because some have argued that if some hotels would drop their rates, it could entice more people to visit New Orleans and potentially increase game day attendance. However, if we apply the basic economic rules of supply and demand it’s not surprising that area hotels refuse to drop their rates when they can get a 93 percent occupancy rate.
With this information mind, does this change your view about the BC? Could it be that people are going to New Orleans for the weekend, but simply refuse to go to the football game?
Thoughts?