The boom times are over for South Florida's young roster of ultra-luxury hotels. A global slowdown could show whether the region has put too much stock in wealthy travelers. Is a global recession the time to be spending $1,000 a night for a hotel room? Jorge Collazo has his doubts. The sales director for the Setai predicts a sizable number of guests this winter will balk at the South Beach resort's $1,100 standard daily rate, forcing him to extend a $620 weekday special into the weekend.

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