Delano Hotel Still Costing a Pretty Penny

Miami Beach’s Delano Hotel is yet again proving it’s a one-of-a-kind place. According to recent reports, the luxury hotel is one of the few SoBe establishments to avoid significantly decreases its prices, despite the recession.

While word that the recession may be nearing an end was optimistically roaring across news stations yesterday, the Delano has somehow managed to keep their room prices in the $538 per night range over the past year, despite the tough economical times. While the hotel did, in fact, endure a 10 percent drop in rates from last year’s prices, the Delano Hotel is sticking out like a sore thumb compared to other luxury hotels on the beach that dropped their prices significantly more in direct relation to the failing economy.

Fred Kleisner, chief executive of Morgans Hotel Group, owners of the Delano, argues that the renowned hotel should not give up its position as a market leader simply to follow price-reducing trends. Despite the fact that the group reported a 21 percent drop in occupancy in 2008, Kleisner points out that they are actually seeing a rebound effect from “wealthy travelers in the New York, London, and Los Angeles locations.”

The Delano South Beach, however, is not yet showing similar progress. With the branch facing a wave of new luxury properties in the workings, however, the group is hoping things will be equally positive on all fronts in the near future.

Via: The Real Deal