They're growing wild now
Here's another convention center hotel scam in the making.
| Posted at 11:53 AM | Permalink |
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Comments (7)
Geez, $750 million, 1100 rooms = $681,818 per room.
Posted by PMG | June 17, 2009 1:16 PM
We better do ours quick or we might lose four of the eight new "BIG" conventions that are part of the revenue forecast.
Posted by pdxmick | June 17, 2009 1:57 PM
Geez, $750 million, 1100 rooms = $681,818 per room.
That is only a 9 year 4 month pay back with NO operating costs and NO interset. Pencil that out.
Posted by pdxmick | June 17, 2009 2:04 PM
Geez, $750 million, 1100 rooms = $681,818 per room.
That is only a 9 year 4 month pay back with NO operating costs and NO interset. Pencil that out.
Well, assuming an overly optimistic 75% occupancy rate, that would *only* be $266 per night, plus operating costs and debt service.
Posted by PMG | June 17, 2009 2:40 PM
I forgot the 100% occupancy.
Posted by pdxmick | June 17, 2009 2:49 PM
Extended Stay America filed chapter 11 this week...
Posted by RANZ | June 17, 2009 3:03 PM
Here's an article on a convention center hotel in Nashville. The article makes reference to two more projects in NYC and Baltimore.
This whole "Portland desperately needs a convention center hotel to make the convention center work" line is starting to sound like the biotech jobs promised with the South Waterfront scam.
Posted by none | June 17, 2009 3:14 PM