KCFlyer
Veteran
- Aug 20, 2002
- 11,294
- 1,427
Remember when I said Trump continues to remain rent free in Liberal Minds?
Hotel valuations are in the tank because people aren't traveling, downtown residential values are in the tank because high income people are increasingly fleeing high-tax cities (and that's who can afford to live in the Trump Towers of the country). Commercial real estate values are also in the tank given more and more companies are keeping people home indefinitely.
Keeping it airline related, United just gave back 150,000 feet of their HDQ space in the Sears Tower. That's 17%. There are over 2M square feet of newly vacant space in Chicago alone.
https://www.chicagotribune.com/busi...0210127-dtfphmaoirhqdlgv4piamay2ca-story.html
I heard that AA has also stopped construction of the 600 room hotel it was building at Skyview. Not sure how far along it was, but I know they'd already torn down the old dorms at the training center, so now there's no overnight space for folks.
With Biden and Fraudci telling people that "two weeks to stop the spread" will now be closer to two years, those urban real estate values won't be going anywhere.
AGain....it's not hotels that they are talking about. And airlines are a good example of Trump's brilliant business acumen...buy an airline...equip the planes with marble lavs and plush, thick pile carpeting that FA's have difficulty pushing carts on. And only came at a cost of a reduction in the number of paying customers he could carry.
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