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IRMA and price gouging #4512819
09/11/17 01:00 AM
09/11/17 01:00 AM
Joined: Jan 2006
Posts: 2,434
Michigan
stockrex Offline OP
stockrex  Offline OP
Joined: Jan 2006
Posts: 2,434
Michigan
I was reading about Comcast opening up their xfinity hotspots for the evacuees in 3 states, I was moved by such generous move by a big business.

Well that feeling did not last long.

Friday I witnessed first hand how businesses are taking advantage of the IRMA evacuees.

The Marriott in Mobile, AL has a $80 weekend rate usually. Well to help the evacuees from FL the general manager decided to raise the price to $189/night.


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Re: IRMA and price gouging [Re: stockrex] #4512822
09/11/17 01:09 AM
09/11/17 01:09 AM
Joined: Mar 2015
Posts: 5,022
Virginia
bbhero Offline
bbhero  Offline
Joined: Mar 2015
Posts: 5,022
Virginia
It's no different than NASCAR race weekends, college graduation weekends, or any other large gathering of people in a location for an event. This is not unusual or to be surprised at. A hotel room that was $189 on Saturday pm was down to $89 the day after a race in Dover. And this was in 2002 when it happened with me. I stayed farther away the Saturday pm and stayed at the Holiday inn Express for $89 the Sunday night after the race. So, this is not unusual by any measure. If the prices were $250-$300 for a $80 room then it would be a much bigger deal.


Nissan Altima 3.5 Coupe
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Re: IRMA and price gouging [Re: stockrex] #4512826
09/11/17 01:17 AM
09/11/17 01:17 AM
Joined: Mar 2014
Posts: 3,252
NJ
Leo99 Online content
Leo99  Online Content
Joined: Mar 2014
Posts: 3,252
NJ
He could have raised the rates to $489 and sold out the hotel.

Thankfully, it's been downgraded to a cat1 hurricane.


Without data you're just another person with an opinion. W. E. Deming

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Re: IRMA and price gouging [Re: Leo99] #4512828
09/11/17 01:21 AM
09/11/17 01:21 AM
Joined: Mar 2015
Posts: 5,022
Virginia
bbhero Offline
bbhero  Offline
Joined: Mar 2015
Posts: 5,022
Virginia
Good point. Heck the Marriott's around me the rates are $140-$170 per night all the time. I like them very well. But they are pricey. But very nice indeed.


Nissan Altima 3.5 Coupe
Quaker State High Mileage 5w30 Purolator Boss 14610
"Treat your family like your friends and treat your friends like your family."
Re: IRMA and price gouging [Re: stockrex] #4512849
09/11/17 03:22 AM
09/11/17 03:22 AM
Joined: Jan 2017
Posts: 1,139
USA
ArcticDriver Offline
ArcticDriver  Offline
Joined: Jan 2017
Posts: 1,139
USA
I am inclined to agree what you describe in the OP is not gouging.

Its no different from any special event or any day during the week.


Multiple Diesel and Gasoline vehicles
Re: IRMA and price gouging [Re: stockrex] #4512881
09/11/17 05:41 AM
09/11/17 05:41 AM
Joined: Dec 2014
Posts: 1,671
'murica
Ethan1 Offline
Ethan1  Offline
Joined: Dec 2014
Posts: 1,671
'murica
Sold out hotel = calling in extra staff and paying biiiiiigg overtime, especially since you're trying to get your staff to come in during a hurricane. Also, some municipalities are requiring hotels to open up to pets. $189 is a great price.

Re: IRMA and price gouging [Re: stockrex] #4512925
09/11/17 07:26 AM
09/11/17 07:26 AM
Joined: Oct 2011
Posts: 2,975
Chicago, IL
Brybo86 Offline
Brybo86  Offline
Joined: Oct 2011
Posts: 2,975
Chicago, IL
What is it called when airline tickets are more expensive around the holidays?
I have seen them go from $400 to $900 round trip to central America.
Price gouging?
Nah, it's called supply and demand.


08 Honda Accord EX-L 2.4L M1 EP 0w20 145k
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Re: IRMA and price gouging [Re: stockrex] #4512930
09/11/17 07:28 AM
09/11/17 07:28 AM
Joined: May 2014
Posts: 1,231
Minnesota
philipp10 Offline
philipp10  Offline
Joined: May 2014
Posts: 1,231
Minnesota
During hurricane Andrew a couple guys from Atlanta had an idea, fill a pickup bed with generators and run them down to Florida, charge 2x the price and make some money. They were accused of gouging and told to stop it. So....they loaded up their pickup with the generators and turned around and went home.....and NO one got generators. Told their friends about the experience too. Moral of the story....greed is good. Any "gouging" creates mote supply....lowering prices over time.

Re: IRMA and price gouging [Re: stockrex] #4512944
09/11/17 07:38 AM
09/11/17 07:38 AM
Joined: Jul 2015
Posts: 3,785
New England
madRiver Offline
madRiver  Offline
Joined: Jul 2015
Posts: 3,785
New England
Delivering a generator with fuel is a service not gouging.

I sold my last used generator on Craigslist during a nasty ice storm at premium dollar because I delivered and it came with my 5 gallon plastic cruddy fuel can too full of gas beyond the generator full of fuel and oil changed.

I sold $100 less then new.


Re: IRMA and price gouging [Re: Brybo86] #4512956
09/11/17 07:56 AM
09/11/17 07:56 AM
Joined: Sep 2010
Posts: 6,988
Texas
4WD Offline
4WD  Offline
Joined: Sep 2010
Posts: 6,988
Texas
And don't forget - it's not gouging when you put the last 5 super bowl tickets up for sale

Re: IRMA and price gouging [Re: stockrex] #4512961
09/11/17 08:01 AM
09/11/17 08:01 AM
Joined: Sep 2004
Posts: 21,629
Orlando, FL
Mr Nice Offline
Mr Nice  Offline
Joined: Sep 2004
Posts: 21,629
Orlando, FL
That hotel price isn't that bad considering the demand for rooms.

Re: IRMA and price gouging [Re: philipp10] #4512962
09/11/17 08:03 AM
09/11/17 08:03 AM
Joined: Sep 2004
Posts: 21,629
Orlando, FL
Mr Nice Offline
Mr Nice  Offline
Joined: Sep 2004
Posts: 21,629
Orlando, FL
Originally Posted By: philipp10
During hurricane Andrew a couple guys from Atlanta had an idea, fill a pickup bed with generators and run them down to Florida, charge 2x the price and make some money. They were accused of gouging and told to stop it. So....they loaded up their pickup with the generators and turned around and went home.....and NO one got generators. Told their friends about the experience too. Moral of the story....greed is good. Any "gouging" creates mote supply....lowering prices over time.


So basically they were investors looking for a return on their money ..?

Sounds like my stock / ETF portfolio.

Re: IRMA and price gouging [Re: stockrex] #4512969
09/11/17 08:10 AM
09/11/17 08:10 AM
Joined: Sep 2002
Posts: 2,267
VA
Gebo Offline
Gebo  Offline
Joined: Sep 2002
Posts: 2,267
VA
Well, I'm more on Stockrex's side. I guess I don't see hurricane devastation where people have lost everything is anywhere near a NASCAR race or even the Super Bowl.

On the other hand, motels can charge whatever they like. Supply and demand are how the free market is supposed to work. In light of a tragedy, I feel for those that have lost their homes. They don't really have the choices you and I have. It's not really a "free" market.


'98 LEX LS400 280K
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'02 4Runner 225K
'05 Lex LS430 85K
'06 Toyota Highlander 145K
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'07 Lex GX470 58K

Re: IRMA and price gouging [Re: stockrex] #4512970
09/11/17 08:13 AM
09/11/17 08:13 AM
Joined: Jul 2015
Posts: 3,772
MD
AirgunSavant Offline
AirgunSavant  Offline
Joined: Jul 2015
Posts: 3,772
MD
Sorry I'm an American first and a capitalist a distant second.
No excuse for screwing the needy!

Re: IRMA and price gouging [Re: bbhero] #4513023
09/11/17 09:16 AM
09/11/17 09:16 AM
Joined: Aug 2011
Posts: 3,157
n.c.
gman2304 Online content
gman2304  Online Content
Joined: Aug 2011
Posts: 3,157
n.c.
Originally Posted By: bbhero
It's no different than NASCAR race weekends, college graduation weekends, or any other large gathering of people in a location for an event. This is not unusual or to be surprised at. A hotel room that was $189 on Saturday pm was down to $89 the day after a race in Dover. And this was in 2002 when it happened with me. I stayed farther away the Saturday pm and stayed at the Holiday inn Express for $89 the Sunday night after the race. So, this is not unusual by any measure. If the prices were $250-$300 for a $80 room then it would be a much bigger deal.


Of course it's different! People attending a Nascar race are choosing to use their discretionary income on entertainment. People having to pay inflated prices for shelter in a life threatening emergency don't have that choice.

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