As I said above those types of events are booked way in advance, and those hotels are usually on point in terms of their relationships with conference planners. Where you are seeing the market come apart is for hotels which are lower down the food chain. I'm staying at an AI on the north coast for US$ 59 per person per night, and honestly it is amazingly good for that price. Jaw-droppingly good. The staff are working their socks off to give amazing service. The issues are a) north coast connectivity b) low season, and this year ultra-low due to cost of living crisis and c) the hotel desperately needs a refurb. The staff were telling me that everyone has had their hours and pay reduced, they are all absolutely desperate for things to pick up.
To be honest I'm far happier at an amazing-value US$ 59 a place than I am at a US$ 250 a night place which is just delivering what it should be for that price. My key metric is always value for money. I know that others are happy to spend a fortune because their happiness is more determined by other factors, like the feeling of knowing they can afford somewhere that's more expensive. But for me it's always value-for-money.
I do question where this will end though. If staff are being laid off and having their pay reduced because things are so quiet, it's really bad.
