loveneo

I have some general questions about potential hotel developments downtown (not focused specifically on a convention center hotel) and wondering if anybody here has any basic knowledge of the industry. Based on Pugu's numbers from the previous page, there are currently 3200 hotel rooms downtown (obviously not including Aloft or Westin). Based on Downtown Cleveland Alliance's Q3 update, Sept occupancy rates were 75%, meaning, on average, 2400 rooms were booked each night of the month. Is that a poor/avg/good/great number? If good/great, did that number carry on into Oct/Nov and now Dec, or was Sept a one-off based on some special events? And if good/great, will the 600+ rooms from Aloft and Westin (plus the Kimpton's 100+ rooms) be enough to satisfy this growing demand? I ask these questions because it would seem to me nearly impossible to convince anyboy (public, private or a combination) to build a convention center hotel of any meaningful size unless you had a growing hotel market without enough inventory to handle the growth.

Kudos to KJP for his lakefront bypass plan and dave68 for his stadium plan. :clap: Any chance either of you have a few hundred million dollars laying around? Failing that, ever thought about running for public office and providing some innovative, exciting, out-of-the-box thinking for this community?

While this isn't related to any specific project, I was wondering if there's an overall master plan for growth at CSU? How much property they own; growth/development plans?

Re: Artisan Direct moving to Cleveland, I got rather excited about having a national art agency moving to Cleveland. Checked their website and they state that they're opening their first gallery here in Cleveland, but not that they're moving their HQ here. Anybody know what's actually happening?

Sorta like Kramer's 'two lane comfort cruise' on the Arthur Berkhardt Expressway!

Cool photo. Imagine how much better it would look without the elevated roadway.

I'll echo surfohio and add one more "stunning"! Got a whole new appreciation for the Breuer building.

Thank you, KJP, great forum here. I agree it's all about the money. But unless Wells foresees several major tenants needing huge blocks of space by 2017 (which I would love to see, but sincerely doubt), I can't imagine them letting Key leave. As for Key, while it's definitely about money, don't shortchange the value that companies place on perception, and having that God-awful logo (as Hts121 so eloquently put it!) on such a prestige building is worth alot (especially for a bank that, unfortunately for Cle and NEO, isn't growing and is slipping further and further behind other major regional banking companies).

Unless the execs at Key and Wells Real Estate (the owner) are complete morons, Key isn't going to vacate the tallest tower between NY and Chi and Wells isn't going to let itself end up with a half-empty tower. A deal will most certainly be struck between the parties.