Posted on Wednesday, 08.26.2009
Luxury Miami Hotels - Miami Beach Vacation Rentals
Miami Beach hotels
are suffering in this trying economy. Luxury Miami Beach hotels
may be feeling the heat more drastically than more affordable hotels. Due to peoples’ fear of the unstable economy, they tend to change their travel habits through choosing a cheaper hotel, negotiating great deals with Miami Beach hotels
or simply staying in more affordable Miami Beach holiday rental properties.
The supply of new luxury Miami Beach hotels has increased drastically within the last year as thousands of new rooms have been added to the market.
The new luxury Miami Beach hotels had to offer large discounts in order to lure travelers while established luxury Miami Beach hotels had to react by lowering their rates in attempts to remain competitive. Luxury Miami Beach hotels also saw a drastic drop in business travel; corporations cut budgets, specifically travel budgets. Conferences, conventions and seminars were also cut to the bare minimum which impacted luxury Miami Beach hotels in a very strong way.
Travelers have changed their travel habits by discovering the virtues of luxury Miami Beach vacation rentals
which are significantly more affordable than hotels. Visitors can secure a luxurious Miami Beach vacation rentals villa
for less than $5,000 a week or a luxury Miami Beach vacation rentals apartment
starting at $3,000 a week.