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Charlest Hotel: Hunting For Hotel Whales

Where: One Bennett Street [map], Cambridge, MA, United States, 02138

Two years ago, Harvard's unofficial official hotel, the Charles, spent $1 million to renovated its 293 guest rooms and public spaces. This week, the Charles unveiled their latest $1 million renovation, the 1800-square-foot presidential suite.

The Charles Hotel's presidential suite is definitely one of the best in Boston. Includes an 85' long living room, dining room, two sitting areas, King size bed, wet bar, baby grand piano, two fireplaces, and Jacuzzi.

Oh, and there is more, including five flat-screen TVs, a security camera to monitor people at the door, and an iPod docking station. There is a custom $10,000 king-size bed, and the bathroom has a giant eight-jet shower.

However, at $3,500 a night the question is still $1 million on one room...how do you make those nubmers work?. The answer, according to the Boston Globe, is you don't.

As much as 80 percent of the time, presidential suites are marketed as a freebie or at heavily discounted rates.

So what is the goal with these loss leading rooms? To capture those rare super rich whales, of course. Bill Clinton, Donald Trump, world leaders, corporate CEOs, these are the folks the Charles Hotel, and other hotels, are hoping to nab with rooms like the presidential suite.

But those whales can only be counted on for 20% occupancy in any given year. What we need to figure out how these hotels dole out that tricked out suite the other 80% of the time...and how do we get on that list.

Related Stories:
·   Hotels Spend Millions on Rooms Few Will See [Boston Globe]