Examples of others events

40ft race truck return UK IOM TT week £429
Same truck UK Holland week after TT week £440
Same truck UK to Ireland shortest journey UGP £512

We have good standard Hotels in every country as well as poor Hotels/B&Bs. The IOM only has a short Tourist season not like other areas, Blackpool being a good example most Hotels B&Bs are of the worst standard about but not many complain. The big cities will always have better standard Hotels as the have year round trade from the Business people, who's companies pay the bills. Anyone who travels to the NW will find that the accommodations available is not always the best and few and far between.
Now the IOM only has one Shipping company, which is also the lifeline of the Island, it cant run at a loss otherwise it will be lost. It runs to the UK twice a day return all year round and its main income is freight, on many sailings out of the peak tourist times it will sail with very little passengers, I have personally seen as few as 10 on one sailing. To carry any passengers the shipping company by law must provide a minimum crew which at many times out numbers the passengers costing the company a lot of money, they have to make this loss up somewhere, it would be much easier for the IOMSP just to run a freight ship, but they don't they provide a lifeline for the Islands people. The UK does not have this problem with shipping as it has the volume of people all year round, but saying this, some shipping companies that carry passengers have gone to the wall or near to it.
Hotels or B&Bs on the island also don't have the volume of paying visitors year round but still have to pay all the annual bills and keep the buildings warm. They also face higher expenses that those of the UK or Europe, Power and heating twice the cost of the UK, food 10/15% more here than the UK.
There is no immediate fix to the problems unless they move the island to the med and Easy jet and Ryan Air going into shipping.