While travel demand is down just about everywhere else, the nation’s capital is booming for the inauguration of Barack Obama Jan. 20. More than 1.5 million people are expected on the Mall at noon on the 20th to witness the historic transfer of power.

The hotels that aren’t sold out are racking up the rates: Expect to pay at least $400 a night if you can find a room, and count on a 4-day to one-week minimum stay. “I got a room for $500 a night, with a four night minimum,” said Charles Wilkinson, a law professor at the University of Colorado in Boulder who was a confident Obama backer. “And I booked it last March.” If you haven’t already started looking, head to www.washington.org or call the visitors bureau at 1-800-422-8644. Other options including flying into nearby cities (Richmond, Va., is one viable option) and driving on the day of the big event.