Hotels That Were Once Sold-Out for Art Basel Miami Still Have Rooms

Here’s a useful story from the Miami Herald:

And while the country’s largest contemporary arts show still commands premium room rates, some hotels are rolling back prices for the big event. Even so, organizers say they’re not seeing the fallout in demand that hit rival art shows this fall as the financial crisis roiled collectors’ budgets and outlooks. ”A lot of people pulled out of other fairs because they have to be in Miami,” said Nicholas Christopher, owner of Turon Travel, the official travel agency for 20 major art shows.

Still, Christopher described hotel bookings as ”a little slower” for Art Basel Miami Beach this year — the first decline he’s seen since the show’s debut in 2002. And his New York firm has seen some reliable Basel attendees scrap their annual treks to South Beach. ”A lot of the museum groups are cutting back. A lot of them aren’t going,” he said.

Party planners already reported a decline in entertainment budgets for Basel. But the big players still plan to have fun. Battered Swiss bank UBS, Basel’s top sponsor, said in a statement it has ”tried to be mindful of any and all cost efficiencies throughout our planning process,” while still spending enough to continue entertaining clients in style, including an opening bash at the Delano hotel.

”If there’s ever a year to party and get one’s minds off other events, this is the year,” said David Bigler, head of UBS’s Miami office.

Art show lacks usual hotel crunch (Miami Herald)