Toxic Algae Will Hurt Business, Florida Hotel Owner Warns on CNBC
NEW YORK (TheStreet) -- Florida's toxic algae problem, spreading in waterways and beaches along the state's southern coast, is negatively affecting surrounding tourist stops and businesses, and area hotels, Colorado Inn Owner Steven Vitale said on CNBC's "Power Lunch" today.
"The rivers (have) always had issues...for decades. So, I've always noticed the water quality to have its problems but now it's time for action," Vitale stated.
Florida Gov. Rick Scott declared a state of emergency last week after discharge from Lake Okeechobee started to flow heavily into water along the Atlantic coast.
Due to an excess of rainfall in the winter, the lake released more water this year than it usually does into surrounding waterways. The effect of the lake's drainage is a large and messy algae problem, Vitale commented.
Vitale said he's "worried about the future."
Although people are still lured to Vitale's hotel because it is located in the center of a beach town known for its"old Florida charm," "water is the lifeblood of this area and it's (the algae) negatively affecting tourism which is the largest industry in Florida," Vitale concluded, adding real estate prices have been affected.
Many beaches in southern Florida were closed for the Fourth of July weekend.