Hotel Rates Dropping Due to Decline in Oilfield - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

Hotel Rates Dropping Due to Decline in Oilfield

The hotel business is feeling the effects of the drop in the oil industry.

Last year, rates were as high as $250 per night with a 60 to 80 percent occupancy.

Right now, that rate is around $150 to $160 per night with a 40 to 60 percent occupancy.

It's all because of the decline in the oil industry.

A hotel official says most of the guests were oil field workers.

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