Hold on tight! It will pass! Offer a reduced rent to entice new tenants, then it's Business as usual.
That is extremely high. I'm presuming it wasn't so, when you purchased it. If that is the case, then you've got a lot of new investor activity in the area. You need to reduce the rent to be competitive. Maybe even offer the first week free.
When you hold a large portfolio, you need to be aware that the rental market moves at a different time to the CG and be prepared to be flexible.
yes it is very high, admittedly, i wouldnt sell in a market where the vacancy is that high unless its bleeding money or there are better CGs, i think its the worst time where everybody is trying to sell