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|Monday, June 01, 2009|
Coastal businesses are hunkering down, lowering prices and trying to stay optimistic as they predict the same number of visitors will be filling Oregon beaches this summer but spending less money or shortening their vacations.
High-end hotels up and down the Coast have lowered their rates, and some are advertising special deals or increased amenities in an effort to attract frugal vacationers. The Oregon Restaurant Association predicts the quick service and casual dining businesses will do OK because of their local customer base, but that upscale restaurants will struggle.
The Greater Newport Chamber of Commerce reports a drop in lodging occupancy rates in February and March compared to last year, along with an increase in camping as travelers choose affordable options. The chamber expects the camping trend will continue this summer.
The Elizabeth Street Inn, which calls itself “Newport, Oregon’s newest luxury oceanfront inn,” has lowered its rates, increased its advertising and added amenities such as wireless Internet and hot breakfasts in an effort to attract customers.
“It’s something we needed to do to stay afloat during the recession,” says Jennifer Morkert, sales manager. “I’m hopeful right now. For our advance bookings, things are looking really good. We’re just not going to see the same price point as in the past.”
Other lodging owners are simply hunkering down. Donn Bauske has been in the motel business for more than 30 years and owns 10 motels in Seaside, including the Budget Inns of Seaside and the Sundowner Motor Inn. He reports a 15% drop in overall occupancy and a 20% drop at his more expensive hotels.
“I’ve seen ups and downs and that’s just the way it is,” says Bauske. “On the Coast, most of the time it’s the weather that will get you. Ten bad days in the summer and that’ll kill your profit right there, doesn’t matter if the tourists have any money.”
One area that is seeing growth is the popular Oregon Coast Aquarium, which reports that its attendance is up almost 12% this year and that there will be no cuts to summer staff levels.
“We’re doing extraordinarily well. Knock on wood!” says Cindy Hansen, aquarium public relations manager. “Families are still traveling. They still want to educate and entertain their children, even on a budget.”
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Thursday, June 26, 2014
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Friday, August 15, 2014
In this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.
Friday, June 27, 2014
BY JASON NORRIS | OB BLOGGER
Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.
Wednesday, August 20, 2014
By Kim Moore | OB Editor
The 2015 survey launched this week. It is open to for-profit private and public companies that have at least 15 full- or part-time employees in Oregon.
Friday, August 22, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
When business intersects with family, a host of situations can arise. Without a clear vision and careful planning, hard-earned investments can become stressful burdens.
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