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November 28, 2008 2:44 PM
Rooms to rent for inauguration - at eye-popping prices
Posted by Joni Balter
My favorite story of the week involves the eye-popping entrepreneurial spirit on display in the nation's capital in advance of the once-in-a-lifetime inauguration in January. The New York Times has a terrific story on windfall profits some are dreaming of by renting their homes for, get this, as much as $57,000 a week.
The math is very simple. The five-country metro area has 95,000 hotel rooms. Inaugration planners expect more than a million people to show up for the inauguration.
Every possible arrangement is being considered - RV's to rent, couches for rent, spots on the basement floor.
What would YOU do to spend a few days in the nation's capital as Barack Obama is sworn into office.
It's all so outrageous Hotel rooms booked months ago are going for as much as $99,000 for four nights at the Ritz Carlton Georgetown, including a post-inaugural three night stay at the Ritz on Grand Cayman. Other hotel rooms were sold for $500 a night.
The District of Columbia government gave up on existing rules requiring a business license to rent out space. The NYT reports the district decided instead to provide a model lease contract online for residents and visitors,
Almost two months to go and the hype is off the charts.
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