[quote=kicksavedave]Well some people are doing the right thing. …
So not everyone is a deadbeat these days, but the percentage who are, is clearly growing and effecting the overall market somewhat.[/quote]
Good for them, but business owners, esp luxury hotel owners follow their own righteous path. They take out massive loans at the top of the market, set rates at $300-800 a night and hope for a windfall. If the economy is soft as it is now, they burn their contract and ask for lower rates. If their lenders don’t agree, they toss keys out of their Ferrari’s and walk away like they did at San Diego W hotel. In the meantime other hotel owners get burned by bankrupt competition and their profits disappear because of the reckless behavior. So much for the bargaining in full faith/sanctimony of contracts.
