Can an extremely wealthy person lower prices in a particular area?

If someone with a lot of money to lose came into a very expensive area and built hospitality buildings offering housing, food, and more at extremely cheap or even free rates, what would happen to the cost of living in that region? Would there be a dramatic drop in prices and could it ruin a place because it... show more If someone with a lot of money to lose came into a very expensive area and built hospitality buildings offering housing, food, and more at extremely cheap or even free rates, what would happen to the cost of living in that region?

Would there be a dramatic drop in prices and could it ruin a place because it happened too rapidly?

Explain.
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