Room rates have increased significantly. Hotels are experiencing mixed demand, which is attributed to a major racing event and other happenings. The impact of these events on hotel bookings is not uniform.

Further information on this trend can be found in a report by The Business Times. The report discusses the current state of hotel demand and room rates, providing more details on the situation.

Details of the events and their effects on hotels are available in the full report, which offers a more comprehensive look at the current hotel landscape and the factors influencing it.