Hotel prices skyrocket for Balloon Fiesta

Hotel prices in New Mexico have skyrocketed with Albuquerque’s 50th International Balloon Fiesta underway.Damen Kompanowski, the president of Greater Albuquerque’s Hotel & Lodging Association, said the spike in prices are expected this time of year. “We definitely see some spikes in our rates during this time, but it’s kind of the demand in rooms. Over the next nine days, we’ll see nearly a million travelers coming to Albuquerque and with that comes some rate increases for our hotels,” Kompanowski said. “This is the 50th anniversary of the Balloon Fiesta, and like any major special event such as the Kentucky Derby,