By Larry Chiang
Fire sale = selling at deep discount
Real estate sometimes gets short sold. What I mean is sold at a loss. I know hotel rooms have high margin, so while there is a profit, there is less profit when hotels hold a Firesale.
At #SXSW, hotels rooms are being sold at very low prices. For example, Sheraton Hotel
Buy low, sell high. #cs183a (arbitrage)
When buyers do not buy, the price gets lowered.
This is bordering on a weekend rate when it should be double-the-rack rate.
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Larry Chiang (@LarryChiang) |
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