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Pinellas Hotel Suffers From Bailout Backlash

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By TED JACKOVICS

tjackovics@tampatrib.com

Published: February 12, 2009

CLEARWATER - Companies that took billion-dollar taxpayer bailouts have pulled back from corporate trips perceived as extravagant. Now the withdrawal is being felt in the Bay area.

A Wells Fargo & Co. insurance subsidiary canceled a meeting and four-day stay for about 150 people at TradeWinds Island Resorts on St. Pete Beach less than 48 hours before the bookings were to begin Monday, said Tim Bogott, TradeWinds president.

Bogott said he was told Wells Fargo has canceled 100 trips since media reported that the company planned a convention in Las Vegas as an incentive for mortgage officers.

The TradeWinds reservations for Rural Community Insurance Services would have generated $250,000 to $300,000 for the hotel, but it expects to recoup a portion of that through contracts that were signed, Bogott said.

"We're not Las Vegas," Bogott said. "This was a business meeting. Incentive trips drive capitalism."

Officials of the Tampa Convention Center and Tampa Bay & Co., Hillsborough County's visitors bureau, said no companies have canceled conferences at the convention center this year. Bookings are slightly ahead of pace from a year ago, but officials are holding their breath about possible reductions in numbers of travelers, they said.

In Pinellas County, overnight visits in 2008 declined by 2 percent to 5.2 million when compared with 2007, according to data released Wednesday.

Reporter Ted Jackovics can be reached at (813) 259-7817

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