OFFICIAL - Loews Convention Hotel (formerly Hyatt)

[GRID]

KC metro finished January in the mid-30s for occupancy. Downtown lower than that; which is to be expected right now.

But is that taking into account major properties that are not even open?

[KCPowercat]

Sheraton is/was the only property not open to guests. DT Marriott closed for a couple weeks I think

[Link2]

Yeah given that most downtown hotels are more dependent on events and suburban interstate hotels are doing better with road travelers, not surprising downtown is lower than metro. But not great that metro is performing below US avg - although Jan will be lower in most winter areas that aren't winter destinations, compared to warmer part of US.

Was thinking before COVID hit that downtown might be approaching overbuilt territory. Won't be too surprising if some either sit idle and sell over time or convert to some form of residential.

Exactly. Downtown is much more dependent on business/group travel, as well as those large events at the Convention Center and T-Mobile Center for example. And for the leisure traveler that's historically been attracted to staying either Downtown, Crown Center, Plaza, etc. those demand drivers that would normally bring them here have been greatly diminished/eliminated during these times.

But on a slightly positive note, KC's Central Business District -- more expansive than Downtown/Crown Center -- performed at or near the top of most hotel metrics compared to similar U.S. markets. With the easing of certain restrictions just recently being announced, that performance will only continue to improve.

[GRID]

Sheraton is/was the only property not open to guests. DT Marriott closed for a couple weeks I think

I was just wondering. Trying to get an idea of how bad hotels are doing. I still see a lot of hotels that are closed, not just in KC. I think hotels will come roaring back to normal, it's probably just another year out though.

[Link2]

KC metro finished January in the mid-30s for occupancy. Downtown lower than that; which is to be expected right now.

But is that taking into account major properties that are not even open?

Yeah, the data takes into account all closed properties (whether temporary or permanent) such as Sheraton CC, Aladdin, Holiday Inn Plaza, Adam's Mark. Also during the height of hotels suspending operations on an interim basis that we witnessed beginning last April (Marriott, 21c, Crossroads, Embassy Suites Plaza, etc.), all those properties were removed from the data for those specific periods of time.

[KCPowercat]

Sheraton is/was the only property not open to guests. DT Marriott closed for a couple weeks I think

I was just wondering. Trying to get an idea of how bad hotels are doing. I still see a lot of hotels that are closed, not just in KC. I think hotels will come roaring back to normal, it's probably just another year out though.

South Florida is running like 95%+ right now. Convention hotels are predictably really really really bad.

[Link2]

Those resort & beach destinations have been pretty resilient (by comparison) throughout; especially those drive markets located relatively close to a significant percentage of people. State and local restrictions in those respective markets have also played a large role.

[DColeKC]

Sheraton is/was the only property not open to guests. DT Marriott closed for a couple weeks I think

I was just wondering. Trying to get an idea of how bad hotels are doing. I still see a lot of hotels that are closed, not just in KC. I think hotels will come roaring back to normal, it's probably just another year out though.

South Florida is running like 95%+ right now. Convention hotels are predictably really really really bad.

Most of the Florida hotspots are also killing it at the short term condo rental game too. I have one friend who owns 5 condos and they've all been rented for months with hardly time in between to clean and prepare for the next guests.

[normalthings]

Hotel packed tonight along with many of the others downrown. Great to see visitors and $$$ glowing downtown again

[normalthings]

Outdoor dining is 1,000 times nicer with the highway closed. The highway cap will do wonders for this part of downtown.

[Chris Stritzel]

Looming over the closed highway.

[normalthings]

Hotel packed tonight along with many of the others downrown. Great to see visitors and $$$ glowing downtown again

Hotel business is doing well.

[dukuboy1]

great news, and as the summer goes on more people traveling and business travel starting to pick up again as well. July & AUG shaping up to be when a lot of businesses will start having people return to the office, but also allowing for flex work as well. But should see office activity in downtown start to increase over the next few months

[earthling]

Hotel packed tonight along with many of the others downrown. Great to see visitors and $$$ glowing downtown again

Hotel business is doing well.

Anyone have occupancy numbers? Sheraton opening back up might have some impact.

[DColeKC]

Huge volleyball tournament in town this week which means great news for hotels and bad news for the lines at Chipotle.

[KCPowercat]

Has cosentinos decided to care more about people sitting in the frozen food aisle than shoppers needing to get down that aisle with a cart?

[DaveKCMO]

Has cosentinos decided to care more about people sitting in the frozen food aisle than shoppers needing to get down that aisle with a cart?

It's volleyball tournament time!

[flyingember]

Has cosentinos decided to care more about people sitting in the frozen food aisle than shoppers needing to get down that aisle with a cart?

It's volleyball tournament time!

There’s the reason.


The profit on prepared food like the salad bar can be 50-70%
The whole business ranges from 1-2.5% profit margin.

They’re never going to kick someone out when they’re the source of store profits for the week

Go into a big suburban store and they staff much better in the high margin areas like bakery, deli, floral. That’s where they want you spending money at. If they do catering they’ll bend over backwards because their food costs are extremely low from, you know, selling it, so it’s big profit area.

I worked in a grocery store doing seven figures in catering monthly. Any manager in the store would help to take or deliver catering orders while the guy stocking frozen might be alone all day

[KCPowercat]

Enlightening as always.

[normalthings]

Hotel packed tonight along with many of the others downrown. Great to see visitors and $$$ glowing downtown again

Hotel business is doing well.

Heard that Loews laid 0 employees off at the KC hotel during Covid. Gives them a great pool of talent to attract, train, and lead new staff.

“We are slammed for the rest of the year. Business is strong and we are seeing a lot of event bookings.” - Management

My understanding is that the bigger powers are supportive of additional investments in the space that would help boost convention business (amenities, 5 star hotel, green space, etc).