Deflating Prices: Phila. hotels cutting rates

The Philadelphia Inquirer reports:

Business is bad - real bad - at Philadelphia's hotels these days, and a price war is raging.

With 10,700 rooms to fill and little large-convention activity, Center City hoteliers are slashing rates and praying to get through a tough first quarter, which many say could be the worst in years.

"There are not enough guests to go around for all of us," said Julie Coker, general manager of the 350-room Hyatt Regency Philadelphia at Penn's Landing. "In this age, you are competing against everybody from the Holiday Inn to the Ritz-Carlton."

To fill rooms, the scissors have come out everywhere, upscale hotels and economy inns alike. The result: a bargain-hunter's dream.

For $39 to $89 weeknights, $109 to $189 weekends, if you book through Priceline.com, you can get a room at the Philadelphia Marriott on Market Street.

Deflation of hotel room prices.