Coachella-area hotels will suffer after its famed festivals, Coachella and Stagecoach, were postponed due to the coronavirus.
The Fairfield Inn & Suites by Marriott Palm Desert was expecting to bring in around $450k. The hotel, which has 110 rooms, saw an immediate 10% drop in room cancelations just hours after promoters announced the festival's postponement. Same with Courtyard by Marriott Palm Desert, which had 25 rooms canceled.
The Comfort Suites Palm Desert, with 72 rooms, expects to lose about $200k. Indian Wells Resort Hotel expects to lose about $400k for the 3 weekends, but its bottom-line is also being affected by the famous Indian Wells tennis tournament also getting canceled. We've been told there's optimism the hotels will make up the revenue -- not to mention TIPS for service workers -- when the festivals return in October, but a lot can happen between now and then too.
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