Hotel prices in New Mexico have skyrocketed with Albuquerque’s 50th International Balloon Fiesta underway. “We’re definitely seeing spikes in our rates during this time, but it’s a bit of room demand. Over the next nine days, we’ll see almost a million travelers come to Albuquerque and that will drive rate increases. for our hotels,” Kompanowski said. “It’s the 50th anniversary of the Balloon Fiesta, and like any major special event like the Kentucky Derby, you think of things like Comic-Con and Las Vegas, and the Superbowl – it’s like the Albuquerque Superbowl.” However, one New Mexico resident thinks the prices are exorbitant. a lot of families are now becoming like a total vacation, because it’s not something a regular person can afford,” said New Mexico resident Tiffany Martinez-Durant. “Inflation is real. Not only are we seeing spikes in hotel costs, but we’re seeing spikes with food, groceries, gas.” Martinez’s family is coming to town for the Balloon Fiesta, but they said with skyrocketing prices, they can’t afford everything that comes with it. “I have family who are from out of state. We are trying to figure out how to accommodate them in our homes because renting a hotel or even Airbnb at this time is not realistic,” she said. An average two-day stay in an Albuquerque hotel ranges from $80 to $160, but with Balloon Fiesta less than two days away, prices have skyrocketed to over $1,000 for a weekend stay. Kompanowski advises people to look for deals online. “We’re doing a lot during this time to make sure our guests have the best time, while they’re in town,” Kompanowski said. “There are definitely offers out there. I was looking online and you can definitely come here. It’s not much different if you were traveling to Denver for the weekend or a normal weekend.” We are contacting the Attorney General’s office for a statement regarding a spike in hotel prices during the Balloon Fiesta or similar events , in terms of the rules put in place for high prices at events. They sent a statement to KOAT: “While hotels have the ability to set their own prices, depending on market conditions, they are also required to comply with all federal, state and local laws, and consumers are encouraged to file a complaint with our office if they believe they have been the victim of an unacceptable price gouging. “Albuquerque International Balloon Fiesta runs October 1-9.
Hotel prices in New Mexico have skyrocketed with Albuquerque’s 50th International Balloon Fiesta underway.
Damen Kompanowski, president of the Greater Albuquerque’s Hotel & Lodging Association, said the spike in prices was expected at this time of year.
“We’re definitely seeing spikes in our rates during this time, but it’s a bit of room demand. Over the next nine days, we’ll see almost a million travelers come to Albuquerque and that will drive rate increases. for our hotels,” Kompanowski said. “It’s the 50th anniversary of the Balloon Fiesta, and like any major special event like the Kentucky Derby, you think of things like Comic-Con and Las Vegas, and the Superbowl – it’s like the Albuquerque Superbowl.”
However, one New Mexico resident thinks the prices are outrageous.
“What was once a fun weekend with lots of families now becomes like a total vacation because it’s not something the average person can afford,” said New Mexico resident Tiffany Martinez-Durant. . “Inflation is real. We’re not only seeing spikes in hotel costs, but we’re seeing spikes with food, groceries, gas.
Martinez’s family is coming to town for the Balloon Fiesta, but they said with skyrocketing prices, they can’t afford everything that comes with it.
“I have family that’s from out of state. We’re trying to figure out how to put them in our house because it’s not realistic to rent a hotel or even Airbnb at this point,” he said. she declared.
An average two-day stay in an Albuquerque hotel ranges from $80 to $160, but with Balloon Fiesta less than two days away, prices have skyrocketed to over $1,000 for a weekend.
Kompanowski advises people to search for deals online.
“We’re doing a lot during this time to make sure our customers are having the best time, while they’re in town,” Kompanowski said. “There are definitely deals there. I was looking online and you can definitely come here. It’s not much different if you’re traveling to Denver for the weekend or a normal weekend.”
We are contacting the Attorney General’s Office for a statement regarding a spike in hotel prices during Balloon Fiesta or similar events, in terms of the rules put in place for high prices at events.
They sent a statement to KOAT:
“While hotels have the flexibility to set their own prices, depending on market conditions, they are also required to comply with all federal, state and local laws, and consumers are encouraged to file a complaint with our office if they believe they have been the victim of an inadmissible price increase.”
Albuquerque International Balloon Fiesta runs October 1-9.
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