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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, June 26, 2014
BY ERIC FRUTS | OB BLOGGER
Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?
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.
Tuesday, July 01, 2014
BY HANNAH WALLACE | OB BLOGGER
Demand for organic food continues to soar: Last year, sales of organic food rose to $32.3 billion — up 10% from 2012. In Oregon, organic produce wholesaler Organically Grown Co. has been championing organic growing methods for four decades.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Thursday, July 31, 2014
BY MARY SPILDE | OB GUEST CONTRIBUTOR
Faced with the aftermath of the “great recession,” increasing concern about the environment and dwindling family wage jobs, we have some very important choices to make about our future.
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.
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