Gulf Coast beach homes: 50 percent drop, still few takers; “Get me whatever you can get me”

As oil washes ashore, property managers sharply cut condo rents, Alabama Press-Register, June 13, 2010:

" We're running less than a 50 percent occupancy, which is significantly less than this time last year." ...

June, July and early August net about 75 percent of the revenue resort property owners can expect, according to rental agencies.

"It will be a very difficult summer," Bodenhamer said. "The problem is that even at those lower rates, we're not getting near enough takers. Reservation calls have gone to a fraction of what they would normally be on a daily basis."

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