Hotels will correct themselves. I’ve seen the development budgets and pro formas on many throughout the country. Because of the leverage on them that’ll self correct when all those mediocre flags (Fairfield Inn types) that have been built at $140-$150k/key in non core locations in secondary, tertiary and other markets can’t do $150-$175/night (ADR) at 72-75% occupancy on a 365 day year. And this time around new lenders and mezzanine capital at 7-9% cost won’t be around to bail them out.a fan wrote: ↑Fri Feb 11, 2022 2:21 pmWho is "our". The oil goes overseas, Pete? This does nothing to drive US prices down. But ok, great idea, Pete!Peter Brown wrote: ↑Fri Feb 11, 2022 2:19 pm Yes a pipeline delivers supplies. In this case, crude oil. And we have a supply problem. I dunno but seems like limiting supplies hurts our supply problem.
Whats the plan for bacon and hotels. Pete?
Bacon? I don’t know… my seven year old daughter eats bacon like the Hunt brothers tried to aggregate silver…took her to a suburban bbq place last night where they have an open wood fired pit inside cooking and she asked why there wasn’t a whole pig hanging from a hook cooking as if the 20-30 large pork hocks roasted weren’t good enough….(she’s like 40th percentile on size not vertically challenged but a small girl with big energy-I gotta keep her away from the Jersey Shore and Daytona forever)
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