Discuss Detroit DISCUSS DETROIT! Any financial news on the Book Cadillac? Previous Next
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Swiburn
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Username: Swiburn

Post Number: 276
Registered: 07-2006
Posted on Wednesday, March 11, 2009 - 9:38 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

I've got to wonder if the place is having trouble.
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Rjlj
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Username: Rjlj

Post Number: 826
Registered: 11-2003
Posted on Wednesday, March 11, 2009 - 9:49 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Have you supported the Book Cadillac?
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Swiburn
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Username: Swiburn

Post Number: 277
Registered: 07-2006
Posted on Wednesday, March 11, 2009 - 10:15 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Oh, sure. I don't even live in the area and I've stayed there twice. I just hope for the best, but this is a terrible time for the hotel business and especially Detroit with the cars.
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Detroitbill
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Username: Detroitbill

Post Number: 695
Registered: 09-2006
Posted on Wednesday, March 11, 2009 - 10:51 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

I think about it myself, my highrise looks at it at an angle, and most nights only a couple of room lights are on. Can only hope for the best, its a terrible time,, If I recall this is what happened to it when it opened originally..
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Rhymeswithrawk
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Username: Rhymeswithrawk

Post Number: 1793
Registered: 11-2005
Posted on Wednesday, March 11, 2009 - 12:08 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Here's hoping the Westin folks are patient. One would assume that if you spend $180 million (not all Westin's coin, of course) on something, you aren't going to close it right away, especially when you're in a national recession.
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Spiritofdetroit
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Username: Spiritofdetroit

Post Number: 1250
Registered: 11-2006
Posted on Wednesday, March 11, 2009 - 1:23 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I'm sure this hotel, as with most Detroit hotels, relies heavily on the big event nights where they boost prices greatly and fill up the rooms. The rest of the time there seems to be the expectation that filling any rooms is a bonus.

Yet another reason why we need the Cobo deal to go through
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Iheartthed
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Username: Iheartthed

Post Number: 3850
Registered: 04-2006
Posted on Wednesday, March 11, 2009 - 3:51 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

They'll be getting plenty of business next month.
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Croweblack
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Username: Croweblack

Post Number: 89
Registered: 02-2007
Posted on Wednesday, March 11, 2009 - 6:39 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

can't make it on 50% occupancy (I believe that number is fudged by a bit but that's what they said so...)

Like I said when it opened--I will set the over/under at three years.
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401don
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Username: 401don

Post Number: 945
Registered: 11-2007
Posted on Wednesday, March 11, 2009 - 7:19 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

As Spirit stated the convention business is crucial to the hotels, especially in these economic times. The downtown hotel companies should be pressuring the council to get a Cobo deal any way possible. They should call a press conference along with restaurant owners as well as their employees attending, to call out the council. Owners and employees, black and white, need to let council know they're not going to stand by and lose their livelihood because of petty racism and stupidity.
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Rjlj
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Username: Rjlj

Post Number: 828
Registered: 11-2003
Posted on Wednesday, March 11, 2009 - 7:36 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Croweblack,

Have you supported the Book Cadillac?
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Ltdave
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Username: Ltdave

Post Number: 337
Registered: 09-2006
Posted on Wednesday, March 11, 2009 - 8:23 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

ive been there...

LOVE it...
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Formerspringgardener
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Username: Formerspringgardener

Post Number: 85
Registered: 07-2006
Posted on Wednesday, March 11, 2009 - 8:46 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

We'll be going to Roast this weekend if that counts.
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Renf
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Username: Renf

Post Number: 44
Registered: 11-2003
Posted on Wednesday, March 11, 2009 - 8:59 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I tried to book a room at the Book-Cadillac
for April 30 and May 1 and 2. I got the message
that they were sold out.
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Detmsp
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Username: Detmsp

Post Number: 81
Registered: 08-2008
Posted on Wednesday, March 11, 2009 - 9:55 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Rjlj, i get your point about people putting their money where their mouth is and supporting local businesses.... but a hotel shouldn't have to rely on sympathy money from locals to survive.
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Giver108
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Username: Giver108

Post Number: 42
Registered: 06-2008
Posted on Wednesday, March 11, 2009 - 10:39 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

I found a couple articles about the declining hotel industry that were written in mid-2008 before the economy really took a dump in the past few months.

http://www.iht.com/articles/20 08/07/31/business/hotel.php?pa ge=1


This article was written about Chicago but makes mention as to how a good convention center industry leads to higher occupancy rates compared to citites that don't have them. Maybe I should email it to MonCon...


http://www.chicagorealestateda ily.com/cgi-bin/news.pl?id=297 43
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Baselinepunk
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Username: Baselinepunk

Post Number: 139
Registered: 03-2007
Posted on Wednesday, March 11, 2009 - 11:09 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

They're all gonna be just fine.
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Rjlj
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Username: Rjlj

Post Number: 829
Registered: 11-2003
Posted on Wednesday, March 11, 2009 - 11:21 pm: Edit PostDelete PostMove Post (Moderator/Admin Only)

Agreed Detmsp.

I'm just making a point about how people are always surprised and saddened when an establishment has closed but when you ask them the last time they went, their response is six months ago or a year ago.

Not to mention, Croweblack is rooting for it the place to be shut down.
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Leannam1989
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Username: Leannam1989

Post Number: 217
Registered: 06-2008
Posted on Thursday, March 12, 2009 - 12:10 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Obviously, city hotels rely on conventions.

Every hotel within 10 miles of St. Louis city is booked solid for the MLB All-Star Game. You guys had one of those recently, though. There was an article recently stating that St. Louis will be probably fair better in the convention decreases because it's in the middle of the country and prices are cheap.

Our Renaissance Grand (originally Statler) recently filed bankruptcy, but it's still open. Apparently it had a lot of debt from it was first opened. The shareholders own the hotel. Can't really sell it right now. It, too, is booked for the All-Star Game.

I'm sure D.C. benefited greatly from the inauguration. New York seems to be holding up okay. Of course that could change. But it probably won't be a bed of roses anywhere.

A city (about 18k) around here recently had a hotel close. There's still a very large one and a medium-sized one open. Seeing as there aren't many big attractions in this town, I wondered how they kept 3 hotels open anyway. 2 were side-by-side.

Not a good time for hotels overall. Not a good time for anybody.

I interviewed my Great-Aunt Juanita for a class project in like 5th grade. It was pretty interesting to hear her talk about growing up during the Great Depression. Obviously, we have much more now than they did then. My Grandma's family (Grandma was born in 1941, after the Depression), had one cow, foraged for berries, grew stuff in the card, and hunted whatever they could.
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Softailrider
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Username: Softailrider

Post Number: 293
Registered: 02-2007
Posted on Thursday, March 12, 2009 - 1:37 am: Edit PostDelete PostMove Post (Moderator/Admin Only)

Hotel and travel industry are way down all over. Even Las`Vegas, which everyone thought was recession proof is hurting. A friend of mine works at the huge 400 room Holiday Inn in Southfield, some nights they only have 5 or 6 room rented.

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