Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (57638)	12/26/2004 5:56:05 PM
From: S. maltophilia	of 74559

<< the apocalypse has not arrived>> It may yet. I got to see a very small scale boom in El Calafete, Argentina last week. This is a town of ~8000 (per a local source, vs. 6400 per the Nov, 2004 Moon Handbook). It has no reason for existence as anything more than a trading post for nearby estancias except that there is a large complex of melting glaciers about an hour away by car. The town is about 3km long and 1/2 km wide, and there is construction everywhere, as every mom & pop is renting out cabins and building more. The place is fully booked now as peak season is getting underway; my wife found a vacancy on her 5th attempt, and the prices are quite firm. But Kempinski (sp?) just opened a big hotel on the edge of town, and at least two other chains are building mega hotels, not to mention hundreds of other rooms coming on line in the next few months. The guy who rented me a car said that everyone know that there will be a glut of accommodation next year and that pricing will be competitive, but no one knows how they will make a profit. There will likely be more than a few bankruptcies as a result, since there is no activity in the area in the off season. Interestingly, there are only 2 car rental agencies at the airport (Hertz & Waagen - where I rented), and few in town. There is room for another 5'x5' rent-a-car cubbyhole at the airport. Somebody jump on that opportunity!<g> patagonias.net

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