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re: Biden to form ‘strike force’ to go after price-gouging
Posted on 3/5/24 at 10:40 am to udtiger
Posted on 3/5/24 at 10:40 am to udtiger
I mean from a legal perspective, not an economic perspective.
Legally, hotel rooms have a price printed on the card on the back of the door that says what the price of the room is, which is like $200-400
They can rent rooms for any amount they want, based on demand, but they have an upper cap they can’t breach without having legal issues. Doubly so if it is in a time of emergency as opposed to high demand.
Charging $400 a room for Black Spring Break is certainly legal because it is high demand for a nonessential event.
Charging $400 a room for people fleeing a hurricane gets into potential gouging territory.
Legally, hotel rooms have a price printed on the card on the back of the door that says what the price of the room is, which is like $200-400
They can rent rooms for any amount they want, based on demand, but they have an upper cap they can’t breach without having legal issues. Doubly so if it is in a time of emergency as opposed to high demand.
Charging $400 a room for Black Spring Break is certainly legal because it is high demand for a nonessential event.
Charging $400 a room for people fleeing a hurricane gets into potential gouging territory.
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