The hospitality industry in the nation's capital is hoping for long-term gains after the historic inauguration of the 44th president, according to Bill Hanbury, CEO of Destination DC, Washington's convention bureau. The city expects to play host to 1.5 million people next month, easily surpassing the record-breaking 1.2 million that attended LBJ's 1962 inauguration.

"This election will let us put our best foot forward and show a changed DC to the world," says Hanbury. "The inauguration will be over on Jan. 20, but the impact on hospitality will linger for months afterward." Hanbury dismisses the high rates many hotels are charging as the product of supply and demand: "Whether it's the Superbowl or 'high season' at the beach or a ski lodge, it is a very exciting time. People want to be here."

The Hilton Washington's "Behind the Inaugural Bash" package, which offers behind-the-scenes glimpses of the preparations for the inauguration, runs $44,000 ($1,000 per president) plus tax for a four-night stay (Jan. 17, 18, 19 and 20), based on double occupancy. The package features planning sessions with catering, culinary and banquet professionals; dinner for eight previewing the official Candlelight Dinner menu; VIP tour of Washington's President's Walk; two tickets to an inaugural ball; luxury 2-bedroom suite for two and more.

Hanbury says there are still accommodations available in the $400 per night range and lower rates in the suburbs. "Your brother-in-law may be sleeping on your sofa for a few days or some youth group may be in the basement of a church, but people are working really hard to find some innovative accommodations," he says. "I hope people who want to come here are not deterred. They may have to drive in from a couple of hours away and park and use public transit, but we do a lot of big events and this is a big venue."

Hanbury pointed out that at the time of LBJ's swearing in, the city didn't have the infrastructure--such as the Metro--and the hospitality industry it does today. "There's no better city in America to handle an event like this," Hanbury boasts. "We are weathering the (economic) storm very well in Washington, from a hospitality-industry perspective. Hotel occupancy in January could be up 4 to 6 percent or more because of the inauguration."

As for the regional economic impact of the inauguration, Hanbury would only say it's in the "hundreds of millions of dollars."

Washington has 29,000 hotel rooms in the district and 95,000 rooms in the region, according to Hanbury.