US hotels are slashing room rates during this summer’s football World Cup, as executives warn that ticket prices, inflation fears and anti-American sentiment are prompting football fans to scale back their travel plans.
Match-day room rates in host cities including Atlanta, Dallas, Miami, Philadelphia and San Francisco have dropped about a third from their peak earlier this year, according to data tracker Lighthouse Intelligence, in a sign of lower than anticipated demand.
“I’m seeing a lot of people start to panic and lower their rates,” said Scott Yesner, founder of Philadelphia-based short-term rental and boutique hotel management company Bespoke Stay.