Harris Rosen says a lot of independent owners are struggling just to stay in business. He says he hasn't seen things this bad in 35 years.

"It used to be that we would by this time be completely sold out for Thanksgiving and Christmas, and if we're at a 60 percent occupancy for Christmas, we're very lucky," said Rosen. "It's very ugly out there. This is not a recession in the hospitality industry in Florida. It's a depression."

Even deep discounts don't seem to be enough to encourage folks to travel. Rosen attributes this to so many people losing their jobs.

"So all of these properties that cater to leisure travelers are suffering," said Rosen. "You know Disney's still offering buy four get three free, and when Disney does something like that you know that something is not right."

Hotel owners in the area may get a boost depending on which teams are selected for the Capital One and Champs Sports Bowls. Out-of-state teams that travel well could generate big bookings for late December into January.

And Rosen says he believes things will turn around. He's not sure when but since his properties operate debt free, he's in a better position than most. Now he says he's refurbishing a lot of his hotels and renovating rooms, so he'll be ready when the industry rebounds.