Back in in 2009 DC residents were making a quick buck by renting out their houses for Inauguration. Shortly after the 2012 Election you saw one bedroom apartments up on craigslist for $1800/weekend. Not so fast – now you are seeing houses and apartments for as little as $200. So what is happening?
In a recent US News article they stated “Kate Gibbs, spokeswoman for Destination D.C., a nonprofit corporation that promotes D.C. travel and tourism, tells Whispers that the city’s hospitality industry isn’t seeing the same boost as it did in the weeks leading up to President Barack Obama’s first inauguration. Unlike the flood of visitors to hotels in January 2009, she says, “There are definitely rooms still available.” VIP packages, which sold well in 2009, also aren’t selling so well.
Lara Hawketts, who helps Washingtonians rent their homes through her company, Pillow Cloud, says her clients charged three or four times what they normally would for a vacation rental in 2009, which sometimes meant thousands per night. This year, they’re charging only double the normal weekend price.
The Washington Metropolitan Area Transit Authority also expects a decline in travelers. Around 1.54 million people used the city’s transit system (1.1 million by train) in 2009, its busiest day in history. This year, WMATA expects less than 800,000 people to use the rails.”
So if you think you are going to make a quick buck this weekend guess again and hope for 2016. If you are debating coming this weekend you can probably catch a pretty good deal and be happy with your hotel or inauguration rentals!
For the full Inauguration Schedule click HERE
For full METRO details click HERE
–Mark Rutstein– DC Real Estate Agent–
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