News & Discussion: General CBD Development

All high-rise, low-rise and street developments in the Adelaide and North Adelaide areas.
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SRW
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Re: News & Discussion: General CBD Development

#2371 Post by SRW » Mon Aug 05, 2019 1:59 pm

“Certainly it’s all private money so one assumes that they (hotel companies) have done their due diligence and they’ve done their work to make sure it’s a reasonable investment that they can get a return on,” Horne said.
Exactly. For established operators it's a matter of compete or be out-competed. And while I agree that the state doesn't do enough to market Adelaide to interstate and international tourists, there's nothing stopping some of these operators from doing their bit to get bums in beds - especially when many are big international chains. The more plentiful and affordable rooms the city has to offer, the easier it is to get tourists (and events) here.
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Re: News & Discussion: General CBD Development

#2372 Post by Nathan » Mon Aug 05, 2019 3:39 pm

Ian Horne, always the voice against new players upsetting the status quo.

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Re: News & Discussion: General CBD Development

#2373 Post by SBD » Mon Aug 05, 2019 11:30 pm

How much of the business of these brands in major cities is tourists, rather than conferences, events, and business travel?

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Re: News & Discussion: General CBD Development

#2374 Post by [Shuz] » Tue Aug 06, 2019 9:20 am

I'm a little perplexed where the demand for all these hotel rooms is coming from - even if the bulk of clientele is corporate travellers. The prices that some of the chains charge for what are very basically offerings is extortionate. Doesn't seem like a satisfactory explanation.
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Re: News & Discussion: General CBD Development

#2375 Post by how good is he » Tue Aug 06, 2019 10:50 am

Maybe its due more to the supply side - developers obviously are able to get more rooms approved/built on a site than say apartments and so it may make the project more feasible. Also they can get away without having the onerous car parking requirements that apartments/zoning may require. Also if developers can get the hotels to commit to a lease or a min. guaranteed return [safety net] this may give more security to the banks so it's easier to finance the deal. So in short, the feasibility/financing could be better/easier. The alternative to new hotels with similar characteristics is new student accom. - so which would you prefer?

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Re: News & Discussion: General CBD Development

#2376 Post by cmet » Wed Aug 07, 2019 8:41 am

For hotels etc it’s typically harder to get loans - you need more equity up front etc ^

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Re: News & Discussion: General CBD Development

#2377 Post by Jaymz » Wed Aug 07, 2019 3:54 pm

Walking down the southern end of KW as I often do, and noticed that the shore repair shop and boutique at 381 have been vacated. A sign in the window says that demolition is commencing soon. Anyone have any news/goss/rumours/facts on what might be happening here? It's the property directly next door to Quest.

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