The highly anticipated total solar eclipse on April 8, 2024, is becoming the motherlode for hotels and rental property owners as rates and occupancy around the week of the eclipse are soaring upwards.
It’s a once-in-a-lifetime opportunity for Dallas as the city hasn’t been in the path of this type of event since 1878 and won’t be again until 2317. But business owners are also seeing it as an unprecedented chance to raise rates through the roof.
“The solar eclipse presents an excellent opportunity for hotels and Airbnb to increase revenue,” said Rachel Coleman, senior editor at travel website Easy World Travels. “There’s an increase in demand for accommodation during this period, which allows them to raise the prices of rooms.”
The eclipse’s path spans across North America, starting in north-central Mexican cities like Mazatlan and moving northwards to Texas cities like San Antonio, Austin, Temple, Waco, Fort Worth and Dallas. The eclipse will finish its journey in Newfoundland, Canada, after moving over Indianapolis, Cleveland and Buffalo.
Dallas-Fort Worth is the largest major metropolitan area in the path of the eclipse.
According to Portsmouth, N.H.-based travel technology company Amadeus, people are anxious not to miss out on the eclipse and are already booking hotels in Dallas-Fort Worth. It’s abnormal given that most hotel bookings are typically purchased within seven days before travel, said Katie Moro, vice president of data partnerships and hospitality for Amadeus.
“The eclipse is already showing that it will drive a bumper April 2024 across the regions through which it will pass,” she said. “It’s very unusual to see these high numbers this far in advance. Solar enthusiasts need to book early to avoid missing out.”
Dallas hotels are expecting to see occupancies rise by over 500% as nightly rates have skyrocketed over 390%, according to Amadeus.
In D-FW, 43% of hotel occupancy is already booked for April 7, 2024, according to Amadeus. It’s a huge spike from April 2023, when that number was around 4%. Even by April 1, 2024, hotels still aren’t filling up, as occupancy is sitting around 7% as of December 14.
Owners are seeing the demand and are taking advantage of the opportunity to flex dynamic pricing as room rates in the area are averaging $139 a night more than during the same date last year, according to Amadeus.
The effects of the total solar eclipse aren’t just limiting itself to DFW and large chain hotels. In a November Airbnb report, the company listed local Texas cities like Kerrville, Marble Falls and Waco as some of the most searched locations among bigger names in the eclipse’s path, like Indianapolis and Louisville.
According to Airbnb, searches for listings in the path of the totality from April 4 to April 7 are up 300% in 2024 when compared to 2023. The company is even seeing some property owners price its accommodations at over $1,000, said Collen Clark, lawyer and founder of Schmidt & Clark LLP. Clark’s firm is watching for price-gouging and shady rental units during the eclipse surge in demand.
With big demand coming to the D-FW area, businesses are having to get creative to entice people to choose its rooms over others, said Brian Booth, director of sales and marketing at The Ritz-Carlton in Dallas.
“I expect Dallas hospitality to provide an abundance of events or activations tailored around it [the eclipse],” he said. “During the last eclipse in the fall, we saw how much people enjoyed going somewhere special to view it, even if that meant paying to do so. I foresee many Dallas hotels getting creative.”
Hotels in the area, like Dallas’ Ritz-Carlton, are even selling a ‘Solar Eclipse Package,’ which includes special items beyond the typical eclipse glasses. It includes spa treatment, breakfast for two and overnight valet parking. Virgin Hotels Dallas and Sheraton Dallas are both also planning similar eclipse packages for its customers.
The special deals are part of a strategy hotels are using against one another to attract more guests, Clark said.
“Businesses can also use the event as a marketing opportunity,” he said. “They can advertise their location as being in the path of the eclipse and highlight any special amenities or views they offer. This can help attract more bookings and increase their visibility.”
Despite high prices, the eclipse gives Dallas a unique opportunity to become a standout location for the rest of the country, Booth said.
“The combination of tailored packages, events and activations ensures that Dallas becomes a hub for the celestial wonder and creates memorable experiences,” he said.
Beyond occupancy and rates increasing, there’s also a good chance that the eclipse will keep tourists around for a little longer beyond the eclipse, said Bassem Mostafa, lead market analyst and owner for GlobeMonitor Market Research Agency.
“The duration of bookings might also increase,” he said. “Unlike regular travelers who might book a hotel for a night or two, eclipse chasers often stay longer to enjoy the event fully, leading to extended booking periods.”
Hotels should still make sure to hit on the fundamentals ahead of the eclipse, Clark said.
“By strategically adjusting their prices and offering unique experiences, businesses can maximize their profits during this event,” he said. “However, they must also ensure that they are not exploiting the situation and are still providing fair and quality services to their guests.
Distributed by Tribune Content Agency, LLC.
