Bad Press, Not Oil, Threatening Emerald Coast Vacation Properties

It appears as though media-hype is tainting thecancellation notice versus the previous 60 day
pristine beaches of Florida's Emerald Coast longstipulation.
before any landfall of oil. If the oil slick does reachIn the wake of the recent real estate crash,
NW Florida, which authorities are still unable toinvestment property owners have seen the value
predict, the effects on the tourism industry will beof their rental properties and primary residences
nothing less than devastating. Unfortunately, forplummet and many will not be able to withstand
those with rental properties, apprehensive touristsanother hit. Until now an investment property
are succumbing to media reports that Florida'sserved as a safety net, with rental revenue
beaches will be destroyed and they are cancellingcovering ownership costs, but if rentals disappear
their trips to the area. As one tourism operatorand the oil disaster hits hard, the property will
puts it, "Right now the only disaster in Pensacolaessentially have little or no value. This will leave
has been the bad PR that we've got".the owner with no choice but to foreclose.
May is traditionally the beginning of peak seasonAny way you slice it, the massive oil spill from the
for tourism on the Emerald Coast, the time whenDeepwater Horizon will have far-reaching effects
they generate enough revenue to carry themon the environment and the economy. Whether
through the rest of the year. If indeed the oilor not the slick reaches the shores of Florida's
does arrive, the money lost now could be theEmerald Coast a considerable amount of
difference between staying afloat or drowning,economic damage has already occurred in the
prompting tourism operators from Pensacola totourism industry. The owners and operators of
Panama City to scramble into damage controlvacation properties will struggle as bookings
mode.plummet and local businesses will suffer equally.
A number of campaigns have already begun in anObviously, nobody wants to see the mess wash
effort to encourage tourists to keep their plansup on the pristine beaches; however, if it does
to visit the area. The Panama City Beachanother opportunity may present itself. If cleanup
Convention & Visitors Bureau is hoping to enticeefforts are necessary there will be an influx of
visitors by offering a $200 travel credit towardstrained workers and volunteers arriving in the
future stays at select properties if the oil spillarea. All of these visitors will require lodging and
disrupts their visit. Likewise, major resorts such asservices and may help to lessen the blow of one
the Sandestin Golf and Beach Resort areof the worse disasters we have ever seen.
revamping their policy to allow travelers 24 hr