clock menu more-arrow no yes mobile

Filed under:

SLS, Montage Vs. Global Recession

New, 7 comments

Two recently opened high-end hotels--the monkey-loving SLS at Beverly Hills and The Montage, specifically--are already offering discounts to try and lure visitors, reports the Wall Street Journal. For example, in January, Montage will drop $200 off the price of a deluxe room (it's down to $395/night), while SLS will give you a half-priced rate for a room on the second night. Via the paper: "The entire hotel sector has 'entered the initial stages of one of the deepest and longest recessions in the history of the domestic lodging industry,' warned PKF Hospitality Research earlier this month." Hotel operators don't seem to be panicking: SBE founder Sam Nazarian spent $700,000 for SLS's Dec. 4th launch party, while Jason Pomeranc, founder of the Thompson Hotel, which also opened this year, tells the paper: "The hotel industry is always a cycle. I don't think we develop a hotel thinking things are always going to be optimal." [WSJ]