Hotel prices in Indy sky high

Hotel prices in Indy sky high
February 3, 2012, 6:03 pm
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If you want to drop about 2000 per seat, you can watch Super Bowl XLVI live. You will be under the Lucas Oil Stadium roof for several hours during the game, but finding shelter for the rest of your time in Indy could be an expensive proposition as well.According to an article on Sport Business Daily, a room at the downtown La Quinta, not a luxury hotel by any stretch, is going for 1975 per night with a four-night minimum. Add in a 17 percent tax and you dropping are over eight grand just for a long weekend.You can save some money by staying away from downtown but even a room at place like a Super 8 25 to 40 miles out of town will set you back anywhere from 350 to 700 a night with the same four-night minimum.I have never seen prices like this, said Alan Bachand, partner in sports hospitality site 14SB.com, who is working his 16th Super Bowl.The prices are due to a concept you learn about in Economics 101. Its about supply and demand and the NFL apparently has had quite a effect on the supply side of the equation.The NFL requires host Super Bowl cities to have 20,000 rooms within an hours drive. There are 6,000 hotel rooms in downtown Indianapolis, and at least 20,000 total within that mandatory hours drive of the city. But the NFL contracted for around 17,000 of those 20,000 rooms for use by teams, media, business partners, league and team officials, and, according to NFL spokesman Brian McCarthy, for fans.I dont think the NFL has much control over all this, but it would be nice if they could stop these guys from using the Super Bowl as their own slot machine, said Larry Rothstein, owner and president of Source Communications, a sports marketing firm.Im feeling ripped off.