New Econonic downturn

[agoodman]

I have to wonder about all the other Inns out there - have you noticed a slow down in bookings or more cancellations since this latest economic downturn?
Although the first 6 months of this year were almost back to my occupancy and revenue of 3 years ago - in the last month my business has literally ceased .... what are you seeing?

 

[KDMoonDance]

I'm having the same experience. Many more cancellations this month, many more questions about our deposit and refund policies for fall. While advanced bookings are down, I'm still getting last minute calls. Grateful for that! Planning to tuck away as much as I can...

 

[gillumhouse]

I was not here over Memorial Day weekend or all of June and I did have a "manna from heaven" financially (although they ended up driving me nuts) in April. I am about normal this year.
When our local plumber was at a meeting in Indiana a couple years ago when the Sh hit the fan to start with, another industry shut down in a nearby Indiana town and he was asked how he was faring in WV. He responded with this: "We are doing OK. But you must remember that when you folks were living high on the hog, we were only up to the hog's knees. We did not have that far to fall."
Same analogy here, I have never been in a high tourist area. I get enough business to pay the expenses of the house most months, it keeps us busy enough to have traffic with only spurts of wearing us out. I have time to devote to the important things in my City and Association and State and DH has time to paint. If we have a conflict, he can usually serve a breakfast I have ready for the oven. Make no mistake - this IS a business - but I am not driven by the bottom line. Life is too short, at least mine is now. I am going to enjoy what I have left.

 

[Proud Texan]

Two other B&Bs in our area closed. We've actually been doing O.K. We've talked ourselves out of expansion and are making adjustments that will simplify our pricing structure. Now is not the time to be getting into additional debt. Pay as we go is our motto.

 

[Alibi Ike]

I'm having the same experience. Many more cancellations this month, many more questions about our deposit and refund policies for fall. While advanced bookings are down, I'm still getting last minute calls. Grateful for that! Planning to tuck away as much as I can....

Lots of last minute bookings but that is typical for August. We had our absolute best July ever, tho.

 

[Breakfast Diva]

The bad economy didn't hit us until last year when we took about an 8% dip. This year the occupancy is about the same, but we've increased our revenue by being able to offer dinners and our other add-on packages have taken an upswing. We're now back to where we were 2 years ago with revenue, but we're seeing more 1 nighters mid-week and more last minute reservations.
All-in-all, I'm very happy. We'll see what happens the rest of the year!

 

[Happy Harpie]

Slow Spring - Great Summer (Best August in our 4 years of B&B) Last minute bookings are up. European visitors account for about 40% of our business - which is status quo. American visitors are wayyyyyyyyyyyyyyyyyy down. I think the new passport policy might be a deterrent. All in all a good year so far.

 

[Paradise]

Same ole, same ole here. Actually, we are getting many longer stay (11-16 night) bookings for winter now (a bit earlier-yah!). The summer, with more local traffic was/is good, too. (Thank goodness!)

 

[Joey Camb]

we have done a bit better than last year so far turnover wise but the gove has put up VAT (a tax on turnover by 3% ie was 10% now 13%) so we are probably money wise about the same ie what I have in my hand after everything is paid) I am lucky as I have a house I rent out and any profit i make I am reinvesting in the B&B as trying to update facilities etc as fast as I can to compete better with my neighbours. Plus I have to have a new roof probably next year which won't be cheap so am fighting to get money in the bank ready for that. (think about $45 thousand we have to have a slate roof) Trying to get everything as low maintenance as possible ie painting my whole place cost £2000 for scaffolding plus £1500 to do the work every time and needs doing every 3 years. Now it never needs doing again so will have paid for itsself in painting alone (not including heating costs) in about 20 years (lol) The door to the breakfast room needs replacing and we will need a new canopy over the front door probably next year as well. plus 4 new bathrooms and a lot of new televisions. The list is endless. Find more people are staying in the UK and having 3 or 4 day breaks which has balanced out a drop in business trade.