It sounds like it isn't keeping people at home. At least the people who are coming in and need a hotel to sleep. Seems like the exact same numbers of people are doing this.
I personally think the 'average fan' has been at home for a long time, well before these hotels started gouging. They wouldn't be charging it if people weren't paying it.
The question is, how are there this many people out there that are willing to pay?
And another question - if we are filling hotels but not filling the stadium, does that mean we simply do not have enough hotels? That's what it seems like.
But as far as sustainability, I tend to think the same way you do, I wonder how it can sustain. But it made it threw 2008 with flying colors, and only grew. An Ole Miss guy said once on Nafoom, that college sports was about as recession proof thing as there is. I can't really question it. I mean I wonder about it in many ways - I simply can't see where the middle class is getting all this money they are spending on vacations, houses or whatever. It's insane.
I'm an average fan, and I still go to games, but I don't need a hotel. That's what we need more of, and those people primarily come from the perimeter of Memphis, Jackson, Birmingham, Huntsville and inside. Those are the only folks who can justify the day trip.