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Hotel across from Wrigley
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Posted: 1/17/2013 1:05 PM
Hotel across from Wrigley
http://www.chicagobusiness.com...m-wrigley-fieldMore 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.
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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.
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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. |
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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."
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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. |
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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."
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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. --------------------------------------------- |
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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? |
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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
BattlinBob: "Shut up you boob..." |
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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 ? |
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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?
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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
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Posted: 1/18/2013 3:27 PM
Re: Hotel across from Wrigley
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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!??! 
Last edited 1/18/2013 3:37 PM by PorkChopExpress12
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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. |
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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. |
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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.
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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. |
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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.storyUntil 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
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Posted: 1/18/2013 8:58 PM
Re: Hotel across from Wrigley
Nm
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