DALLAS (AP) When Westin’s hotel in Dallas was built in 1955, it was a modest four-story, two-story hotel, the kind of modestly priced hotel that had to sell to get a foot in the door of a new upscale hotel chain.
Now Westin is the most overpriced hotel in history, with a $1.2 million price tag.
The hotel, in the heart of Dallas’ vibrant shopping district, was built to be an affordable, chic destination for high-end guests who could afford it.
It was a classic Dallas hotel.
Now it’s a modern-day ghost town.
In the first decade of the 21st century, Westin was a symbol of Dallas.
Its grandeur and charm, combined with its proximity to the city center, made it a destination for rich people, and a destination of choice for low-income residents.
It also helped attract international travelers who could easily afford to stay there, including celebrities like Elvis Presley, George Clooney, Richard Branson and the likes of Oprah Winfrey.
But now, as Dallas is struggling to recover from decades of economic hardship, Westins popularity has plummeted, and hotel prices are soaring.
The Dallas Star recently reported that Westin lost more than $900 million in the first nine months of this year alone, while the average room price in Dallas climbed nearly 100 percent.
The loss in revenue was primarily due to lower hotel occupancy and hotel stays.
Westin, the largest hotel operator in Dallas, said last week it was suspending new occupancy and staying-room policies.
Westins chief operating officer, Richard M. Schatzberg, said that the company will try to attract guests by creating more attractive pricing, including a new option for people who stay in the same room for a week.
That would be similar to the company’s existing “nightclub” pricing, which was introduced in October.
Schitzberg said Westin also plans to introduce an online room booking service, which would allow people to book a room and pay on a card, and would allow guests to book their rooms for a month or longer, as well as an option to book an entire stay for $1,200 a night.
“If the guests want to book multiple nights, they can do that,” Schatz-berg said.
But for many Westin guests, that’s not enough.
In a statement, Westinc said the company has been committed to providing a great value to guests who have stayed at Westin.
“We have seen tremendous growth in the number of guests we serve, and we believe this new pricing model will drive increased interest in staying in Westin and creating more of a destination experience for our guests,” the statement read.
“To do so, we have also made several changes to our pricing structure.
We are introducing a new, flexible pricing structure that includes the option to reserve a room for $400 per night, which is a great price for a room to accommodate multiple nights of entertainment.
We will also be reducing the price for overnight stays for guests who are staying longer than a week.”
That’s good news for guests, but it’s bad news for Westin management.
The company’s board has said it is in talks with Westin to explore a new pricing structure, but the company said that if the talks go nowhere, it could cut costs by up to 70 percent.
At a recent board meeting, West-inc’s chairman, Jeff Miller, said he wants the company to continue to grow in order to attract more customers.
“What we need to do is keep going,” Miller said.
“This is our best year yet.
We’re on the cusp of a historic renaissance.
We can do it.
We just have to keep pushing.
And we will continue to do that.”
Westin had a great run.
It has the most rooms in the country, has been a leader in entertainment, and has generated a good deal of interest among the entertainment industry.
But Westin has also had a tough time attracting customers, and the hotel has lost a significant portion of its revenue.
Its annual revenue has declined by 15 percent since 2013, and its operating income has fallen by 10 percent since 2016.
The board is looking to cut costs and improve the hotel’s financial position.
Westinc CEO David Eberhart told the Dallas Morning News this week that the hotel will cut costs in two ways.
One is by moving to a new price structure that would provide more affordable rooms and by creating a new “nightlife” option.
“I think we will do some of those things,” Eberhardt said.
Another way the company is looking at doing that is to bring in some other companies that are operating in the hospitality industry.
“There are people that are trying to bring new companies into the industry and are trying things that are different, that are not in the hotel business,” Ebersht said.
West-in said it was still evaluating its options