Free Trial Ad
Why Subscribe?
  • Player/Prospect News
  • Exclusive Insider Info
  • Members-Only Forums
  • Exclusive Videos
  • Subscribe Now!
InboxChat RoomChat Room (0 fans in chatroom)

Hotel across from Wrigley

Avatar

Posted: 1/17/2013 1:05 PM

Hotel across from Wrigley 


http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Reply | Quote

Posted: 1/17/2013 3:49 PM

Re: Hotel across from Wrigley 



cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.
Reply | Quote

Posted: 1/17/2013 4:00 PM

Re: Hotel across from Wrigley 



absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Reply | Quote
Avatar

Posted: 1/18/2013 9:20 AM

Re: Hotel across from Wrigley 



DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.


Baez has "top-shelf bat speed," according to one National League scout who recently saw him play. "I haven't seen that type of bat speed this year outside of the big leagues. It's pure, unadulterated, just violent bat-speed."

Reply | Quote
Avatar

Posted: 1/18/2013 9:32 AM

Re: Hotel across from Wrigley 



mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
Reply | Quote
Avatar

Posted: 1/18/2013 9:35 AM

Re: Hotel across from Wrigley 



cubs2007 wrote:
mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
They are at least going to get a cut of the revenue.  The Cubs own the property, they wouldn't donate it to the hotel company.  Also many hotel companies work as franchises (with the parent company as oversight).  The land owner finances the hotel and keeps a large percentage of profits.


Baez has "top-shelf bat speed," according to one National League scout who recently saw him play. "I haven't seen that type of bat speed this year outside of the big leagues. It's pure, unadulterated, just violent bat-speed."

Reply | Quote
Avatar

Posted: 1/18/2013 10:33 AM

Re: Hotel across from Wrigley 



There are really two options here. The Cubs could build and finance the building and pay a franchise fee, or they could sell the land to Sheraton (selling could mean 99 yr lease). But, if it is a "cubs" owned Hotel, the Cubs will just pay a franchise fee (typically 3-4% of revenues) and keep profits, or they will let someone else build after they sold the land.
---------------------------------------------
--- mhuml32 wrote:


cubs2007 wrote:
mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
They are at least going to get a cut of the revenue.  The Cubs own the property, they wouldn't donate it to the hotel company.  Also many hotel companies work as franchises (with the parent company as oversight).  The land owner finances the hotel and keeps a large percentage of profits.

---------------------------------------------
Reply | Quote

Posted: 1/18/2013 11:07 AM

Re: Hotel across from Wrigley 



cubs2007 wrote:
mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
You don't think the Cubs will make any money from "the official hotel of the Chicago Cubs", built on land that the Ricketts' currently own?
Reply | Quote
Avatar

Posted: 1/18/2013 12:10 PM

Re: Hotel across from Wrigley 



DoubleDown11 wrote:
cubs2007 wrote:
mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
You don't think the Cubs will make any money from "the official hotel of the Chicago Cubs", built on land that the Ricketts' spent $20 mil to currently own?
fixed lol
"It's only football...." - Lovie's farewell speech
Reply | Quote
Avatar

Posted: 1/18/2013 12:58 PM

Re: Hotel across from Wrigley 



chicagoHOOSIER wrote:
DoubleDown11 wrote:
cubs2007 wrote:
mhuml32 wrote:
DoubleDown11 wrote:
absolutebadger wrote:
cubs2007 wrote: http://www.chicagobusiness.com...m-wrigley-field

More than a year after the Ricketts family paid $20 million for the McDonald's lot across from Wrigley Field, the Cubs ownership group announced an agreement Thursday to develop a boutique Sheraton hotel on the Wrigleyville site.
Those are going to be some expensive rooms during home stands.

With a lot of that money going directly to the Chicago Cubs.  Thinking of the organization solely as a business entity, it has the potential to be an absolute monster.
Well stated.
I don't think the money from the hotel would go direrectly to the Cubs. I think it would go to Sheraton's parent company Starwood Hotels & Resorts Worldwide. Ricketts is trying to use this to help get his loan to renovate Wrigley by showing the benefit to the neighborhood and jobs created.
You don't think the Cubs will make any money from "the official hotel of the Chicago Cubs", built on land that the Ricketts' spent $20 mil to currently own?
fixed lol
How much did they make from McDonalds ?
Reply | Quote

Posted: 1/18/2013 12:58 PM

Re: Hotel across from Wrigley 


Yesterday he learned there are college wood bat summer leagues.  Today he learned that hotels are franchised.  What can we teach 2007 tomorrow to further emphasize he doesn't know it all?
Reply | Quote
Avatar

Posted: 1/18/2013 1:04 PM

Re: Hotel across from Wrigley 



SPOONER wrote: Yesterday he learned there are college wood bat summer leagues.  Today he learned that hotels are franchised.  What can we teach 2007 tomorrow to further emphasize he doesn't know it all?
Can't help yourself - try commenting on the topic instead of the poster.

Show me the financial details of the land owned by the Ricketts and expected revenues that will be made by the Cubs. Was the 20 million dollar purchase of the land a cash deal ?

Last edited 1/18/2013 3:10 PM by cubs2007

Reply | Quote

Posted: 1/18/2013 3:27 PM

Re: Hotel across from Wrigley 


Reply | Quote

Posted: 1/18/2013 3:35 PM

Re: Hotel across from Wrigley 



cubs2007 wrote: Can't help yourself - try commenting on the topic instead of the poster.

Show me the financial details of the land owned by the Ricketts and expected revenues that will be made by the Cubs. Was the 20 million dollar purchase of the land a cash deal ?

All Spooner is doing is telling the truth. And being rather nice about it. Very nice about it actually considering how many douche things you say. Personally I think your an total a$$hole. 100% a$$hole.  

Makes Spooner's comments a lot better doesn't it!??! excited

Last edited 1/18/2013 3:37 PM by PorkChopExpress12

Reply | Quote

Posted: 1/18/2013 3:38 PM

Re: Hotel across from Wrigley 



PorkChopExpress12 wrote: http://www.suntimes.com/sports...-stay-home.html

The relevant bit from the article being:

According to a source with direct knowledge of the analysis, the Cubs anticipate $95 million in additional annual revenue directly resulting from the renovations. That’s more than a 30 percent increase from pre-renovation revenue.

That is a lot of money.
Reply | Quote

Posted: 1/18/2013 3:44 PM

Re: Hotel across from Wrigley 



SportsGoblin wrote:
The relevant bit from the article being:

According to a source with direct knowledge of the analysis, the Cubs anticipate $95 million in additional annual revenue directly resulting from the renovations. That’s more than a 30 percent increase from pre-renovation revenue.

That is a lot of money.
Yes, they are going to do whatever it takes to get this renovation done within the next 2 years. That along with the money they will get from a new TV deal will finally push the Cubs revenue stream into the 21st Century.
Reply | Quote

Posted: 1/18/2013 3:44 PM

Re: Hotel across from Wrigley 


The article I read stated that the Rickett's family was building the hotel. If the article was accurate, then they are building the property to lease or sell to the franchise or franchisee. Part of the that lease agreement could contain a % of the hotel's revenues. In any case, I seriously doubt they ever part with the land.
Reply | Quote

Posted: 1/18/2013 3:47 PM

Re: Hotel across from Wrigley 



absolutebadger wrote: The article I read stated that the Rickett's family was building the hotel. If the article was accurate, then they are building the property to lease or sell to the franchise or franchisee. Part of the that lease agreement could contain a % of the hotel's revenues. In any case, I seriously doubt they ever part with the land.
Why would they part with the land? It's prime real estate next to the team they plan on owning for decades.
Reply | Quote
Avatar

Posted: 1/18/2013 3:48 PM

Re: Hotel across from Wrigley 



SportsGoblin wrote:
PorkChopExpress12 wrote: http://www.suntimes.com/sports...-stay-home.html

The relevant bit from the article being:

According to a source with direct knowledge of the analysis, the Cubs anticipate $95 million in additional annual revenue directly resulting from the renovations. That’s more than a 30 percent increase from pre-renovation revenue.

That is a lot of money.
There are a lot of assumptions being made without the details being made public yet. How much was going to come from the improvements to Wrigley, the triangle project and hotel ?

Hopefully some details will be made this weekend at the convetion that will provide some detail on the additional revenue and renovations that is still contingent on getting money from the state.

http://www.chicagotribune.com/...0,1547549.story

Until now, the family's development plans centered on a triangle-shaped parking lot next to Wrigley that could become a museum, retail shops and a restaurant. The owners upped the ante by proposing a hotel, a project that would create jobs and fill a need for lodging in the neighborhood.

However, development of the hotel (and the neighboring Triangle Property) is contingent on the Cubs first finalizing a funding plan for the renovation of Wrigley Field. In other words, the hotel – among other development ideas for the Wrigleyville area – is a carrot being held out by the Ricketts in order to help generate goodwill and interest in public funding for the Wrigley renovation.

Last edited 1/18/2013 4:20 PM by cubs2007

Reply | Quote
Avatar

Posted: 1/18/2013 8:58 PM

Re: Hotel across from Wrigley 


Nm
Reply | Quote