Receiver Announces that Burke has a Stalking Horse Bid and Deal will Close by End of 2024

[deadheadskier]

Most hotels need to be at a 50-60% occupancy rate to break even. It's the 40% figure as to why I suggested it get retrofitted to be lesser units, but more spacious condos. Turn those 116 hotel rooms into 58 one bedroom condos. Full disclosure: never been in the building and don't know the room sizes. I'm just assuming a typically sized hotel room.

The association might not like the competition and what it will do to their home values, but you know what will hurt their values more? A closed ski area. That hotel at only 40% occupancy could do that.

 

[thetrailboss]

Most hotels need to be at a 50-60% occupancy rate to break even. It's the 40% figure as to why I suggested it get retrofitted to be lesser units, but more spacious condos. Turn those 116 hotel rooms into 58 one bedroom condos. Full disclosure: never been in the building and don't know the room sizes. I'm just assuming a typically sized hotel room.

The association might not like the competition and what it will do to their home values, but you know what will hurt their values more? A closed ski area. That hotel at only 40% occupancy could do that.

The units are already pretty big. We spent a week up there in June 2023 and I was really impressed. And I do think that there is some credence to the suggestion that Q's "plan" was to have them potentially converted to condos.

I was also hoping that somone could put into perspective what the occupancy rate would need to be to make money. I figured that they were losing money. Perhaps now being on Indy will help the numbers.