Florida property managers bracing for huge losses following Gulf oil spill

Posted on June 7th, 2010 No Comments

Property managers along Florida’s ¬†coast are expecting the worst this summer as the damage from BP’s oil spill threatens properties along the gulf coast. Vacation rentals have already seen a 10% drop since the offshore drilling rig Deepwater Horizon exploded in April. As the resulting oil spill begins to threaten coastal properties, vacation property owners and managers fear that tourism and commercial losses may eventually reach 10 to 15 billion dollars.

Managers like Rhonda Holley, the general manager of Pinnacle Point in Panama City Beach, are offering “white sands guarantees” in which tourists will be refunded rental fees if oil does end up hitting the beach. While the guarantees may work to keep business in the early part of the season, some fear that the long-term losses may become too much to handle.

For more information on property damage and oil spill claims, contact the Gulf of Mexico oil spill lawyers of Williams Kherkher at  800-821-1544 to talk to an experienced attorney today.

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