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Sports events have become the star of Bakersfield’s tourism and hospitality industry, which now supports the city’s economy to the tune of more than $20 million a year. (To be clear, that figure is based on 44 events drawing 110,000 delegates and resulting in 71,000 Bakersfield hotel room bookings in the fiscal year ended June 30.)
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There are 190 hotels and motels in Kern County. Together, they have an estimated 2,300 employees and make $96 million in sales annually. The majority are small operations making less than $1 million. However, like most industries, a few businesses get the lion’s share of the revenue.
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If you need commercial or residential property appraised, there’s something you ought to know. As of May 1, appraisals are subject to the Home Valuation Code of Conduct, which was hammered out in a settlement agreement among the New York Attorney General, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac.
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Its thirst for capital makes Bakersfield-based oil producer Bonanza Creek Energy Co. LLC much like a ... Lamborghini. No, wait — make that a Corvette, said company President and CEO Mike Starzer, apparently sensitive to the challenges facing General Motors. (Good point: Use more domestic metaphors!)
