What is even more interesting is the revelation that even in the busiest of times, Greensboro hotels are rarely over 70% occupied. It would appear Greensboro has more than enough hotel rooms to last us many years into the future. Click on any of the snippets to view them full size.
You see, Kaplan and Kern intend to profit not from the hotel but from renting the hotel parking garage to the City of Greensboro at exorbitant rates. As I wrote in Part 15 of my series, Incentives In Greensboro:
"Here's a better idea, a counter proposal: The City of Greensboro offers to build the entire parking garage and hotel structure and lease it long term to the Wyndham Hotel Group with the hotel group picking up the cost of the interior as is customary in commercial leasing. If Kaplan, Kern and Greg Dillon sign on the dotted line they get their deal. If the hotel is in fact a money maker then that's the best deal going for the Wyndham Hotel Group.
I'm betting Dillon high tails it back to Washington, DC leaving Kaplan and Kern looking like the two bit hustlers we all know them to be."
Update: The entire study is now online thanks to Keith Brown of Triad Watch.
