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Old 01-12-2016, 02:42 PM   #1
JSic
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The Midtown Hotel

Why is it still there? How has it survived multiple waves of redevelopment? Any chance it could be redeveloped soon?

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Old 01-12-2016, 07:40 PM   #2
DBM
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Re: The Midtown Hotel

At least 750 words from the Globe here, from just a year ago, that should pretty much answer all your questions?

https://www.bostonglobe.com/metro/20...QVM/story.html
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Old 01-12-2016, 10:37 PM   #3
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Re: The Midtown Hotel

Quote:
Originally Posted by DBM View Post
At least 750 words from the Globe here, from just a year ago, that should pretty much answer all your questions?
Not really It overall suggests the Midtown Hotel is a fantastic (mainly meaning "cheap") place, beloved of its guests and its owner. But nobody explicitly says, "For the love of George Jetson, let's never redevelop this wonderful motel - even though it'd be fit to be redeveloped in far less valuable patches of real estate, never mind the middle of Boston."

And I'd imagine Druker would redevelop in a heartbeat to maximize his profit. Very curious why he's waited so long - what's he holding out for?
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Old 01-12-2016, 11:03 PM   #4
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Re: The Midtown Hotel

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Very curious why he's waited so long - what's he holding out for?
Actually, as long as he also owns the Colonnade, which is essentially next-door (actually just 100 yards away, and split by only one other property), why on earth would he ever want to redevelop it?

Doesn't basic economic theory say that the moment he redevelops it, it becomes competition for the Colonnade, and starts cannibalizing business from himself?

If he leaves it as his, then his Huntington Ave hotel portfolio stays diverse/segmented across market tiers. Isn't that ideal?

NOTE: I only just remembered that the Midtown is also just yards from the Back Bay Hilton and the Sheraton.

In such a robust hotel market, why would anyone to give up the enviable niche of anchoring the cheapest, no-frills end of the spectrum?
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Old 01-13-2016, 05:36 AM   #5
Suffolk 83
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Re: The Midtown Hotel

Arent there brownstones right behind it? I dont think those neighbors are going to go for some mega development
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Old 01-13-2016, 06:21 AM   #6
JSic
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Re: The Midtown Hotel

Quote:
Originally Posted by DBM View Post
At least 750 words from the Globe here, from just a year ago, that should pretty much answer all your questions?

https://www.bostonglobe.com/metro/20...QVM/story.html
Good read, thanks.
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Old 01-13-2016, 06:40 AM   #7
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Re: The Midtown Hotel

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In such a robust hotel market, why would anyone to give up the enviable niche of anchoring the cheapest, no-frills end of the spectrum?
Because it means leaving money (in the form of price you don't take) on the table. If it's such a robust hotel market, you're not worried about getting rooms filled.
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Old 12-21-2018, 09:13 PM   #8
eswwaa
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Re: The Midtown Hotel

Sounds like it is getting sold and redeveloped...

https://www.bostonglobe.com/business...aDI/story.html
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