You posted in the right place. While I'm not in Pensacola, I'm pretty familiar with the area. First off, Pensacola is not that big of a city. If you blink, you might miss it when driving by on the Interstate-- LOL. Seriously, the metro area is barely 100,000. Anywhere, will be fine. The more appropriate question is when are you going to be there. Now, with summer being over, the tourists will be fewer. This is good and bad. For the good, it means hotel rates will drop. On the bad, you will lose those potential clients who are in town for vacation. I can think of 6 distinct areas you can stay in. First, West Pensacola off of I-10. This area is about 7-9 miles from the Alabama border. It is pretty rural and not much around, but there are the typical hotels off I-10. I wouldn't recommend b/c it is out of the way. Second area is at the I-10, I-110, Davis Highway interchange. Again, there are your typical travel motels here, but this is the heart of activity for Pensacola. It is near a major university, a major medial center, a mall and a lot of other retail businesses. This is the area most working girls seem to use for their incalls or where the guys get outcalls. Hotel rates are reasonable, and it is accessible. The third area is near the airport and another local mall. There are some good hotels here but a bit pricier due to being near the airport. One big drawback is that there is no real easy access. It is inconvenient. A fourth area is near the Navy base. Probably best to avoid. It is not the best of locations. A fifth area is downtown (if you can say Pensacola has a downtown). Again, probable best to avoid this area. After business hours, it is deserted. The last area is Gulf Breeze/Pensacola Beach. Gulf Breeze is across a 3 mile bridge/causway from downtown Pensacola. There are some reasonable hotels here but it is kinda out of the way from the main area of Pensacola. Along with Gulf Breeze, there's Pensacola Beach which is over another bridge from Gulf Breeze (i.e. 2 bridges from downtown). The Beach (island) mainly has resort style hotels and condo complexes but there are a couple of name brand hotels as well. This will be your most expensive option (even in the low season) b/c it is right on the Gulf of Mexico. It is quieting down there now (or more precisely after Labor Day). By staying here, you risk paying more and not attracting the locals who won't be inclined to fight through 20-30 minute traffic to get to your location. However, if you are looking to cater to tourists, this might be a good option. My recommendation would be the I-10, I-110, Davis Highway location followed by Gulf Breeze/Pensacola Beach.
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