The current economic climate is having a negative effect on some businesses in the Calgary area and  hotel operators are concerned about the low number of bookings this close to Stampede week.

The Calgary Hotel Association says right now hotel bookings for the stampede are lower than they were at this time last year.

The association concedes this year will be tough because of the current economic downturn but officials say they would consider it a success if Stampede could reach the same number as last year's bookings.

Many tourists are staying home this year and Hotel Arts says they are also seeing a 30 % drop in corporate bookings for the Stampede.

"They're just not travelling and bringing out the people," said Erin Dawson from Hotel Arts, "some companies last year would put up 10-15 people from their Toronto offices, they're still coming, but they're coming in ones or two as opposed to 10-15."

The Calgary branch of the Canadian Progress Club has also felt the pinch this year.

The clubs famous Dogie Do Rodeo, which is usually held on the first Saturday of Stampede, was cancelled this year due to fewer ticket sales and lower corporate sponsorship.

Many other Stampede corporate events have also had to scale back this year due to the tough economic times.