[BobNJ1960]

Phase 2 Connecticut Post plan: Take out all retail space between old Sears store and Macy's/Boscov area.

180 degree, much needed transformation.


https://patch.com/connecticut/milfor...nsxW9Nseh1htls

[Mike 75]

Originally Posted by JayCT

So Hartford State Senator John Fonfara issued a very strong statement about the budget. Fonfara, who is Co-Chair of the tax writing committee, was a staunch advocate of raising taxes on the wealthy and greatly increasing the capital gains tax. He called the budget “status quo” and then went on to say that the state’s “policies are a knee on the neck of the Black community and other under-served communities of our state. We can do better, and we must do better.”

I don’t know about you but that statement makes me livid. It’s bad enough that this State Senator is completely clueless on the negative impact that the significant tax increase would have on our state but to equate it to the George Floyd incident is disgusting and disrespectful to Mr. Floyd, his family and the entire black community. Talk about politicizing. Jay

https://www.courant.com/politics/hc-...dum-story.html

Agree 100%. Its a despicable comment.

[BobNJ1960]

Ct hotels lost 8,800 jobs in 2020. Projected down 5,900 still be year end 2021, amongst worst third of states in job losses for the industry.

https://ctmirror.org/2021/05/10/anal...-harder-in-ct/

[norcal2k19]

Originally Posted by BobNJ1960

Ct hotels lost 8,800 jobs in 2020. Projected down 5,900 still be year end 2021, amongst worst third of states in job losses for the industry.

https://ctmirror.org/2021/05/10/anal...-harder-in-ct/

What's your point? The article also mentions the following:

"But the governor has recommended matching nearly $350 million in federal funds — and $480 million in state borrowing and tax credits — to jump-start the economy, through loans, grants and workforce training."

So the decline wasn't because of any government policy, which is what you're inferring. It was due to the loss of the business traveler, which is expected and the state is actively trying to fix. Glad Governor Lamont has a growing the pie/pro jobs outlook which is positively influencing the state legislature.

[BobNJ1960]

Originally Posted by norcal2k19

What's your point? The article also mentions the following:

"But the governor has recommended matching nearly $350 million in federal funds — and $480 million in state borrowing and tax credits — to jump-start the economy, through loans, grants and workforce training."

So the decline wasn't because of any government policy, which is what you're inferring. It was due to the loss of the business traveler, which is expected and the state is actively trying to fix. Glad Governor Lamont has a growing the pie/pro jobs outlook which is positively influencing the state legislature.

My point is the industries losses after the lockdown are long-term. NYC is bracing for 2025 as the first time the industry approaches pre pandemic employment.

The decline was due to government policy, specifically the lockdown. Business travel is the vast majority of the drop, and many corps are shifting even as covid dissipates to less travel on an ongoing basis. There is no fixing that; it represents a permanent change in how corps do business. It is affecting all regions.

What most fail to realize is what I call the Priceline affect. Hotels, past economy level rely on Business to stay in the black. Casual travelers discount them to death on Priceline (and I know several local hotel managers btw), while Business travelers pay list, as it gets reimbursed anyway. So not only do occupancy rates nosedive with business travel still very low, median rates actually paid per room nosedive as well.

STR (a/k/a Smith Travel Research was original name) are the experts on it. I love watching their folks interviewed, in person or print. I used to live 5 miles from their hq. Never recognizing how explosive their growth would be. They study every KPI the industry needs.

[ayoskillz]

Originally Posted by BobNJ1960

What most fail to realize is what I call the Priceline affect. Hotels, past economy level rely on Business to stay in the black. Casual travelers discount them to death on Priceline (and I know several local hotel managers btw), while Business travelers pay list, as it gets reimbursed anyway. So not only do occupancy rates nosedive with business travel still very low, median rates actually paid per room nosedive as well.

Also the airbnb effect applies to it. Alot of people including myself that still had to travel didn't feel comfortable staying in hotels and air bnb gives you a sense of privacy and safety. I know when I come to CT I use airbnb .

[BobNJ1960]

Originally Posted by ayoskillz

Also the airbnb effect applies to it. Alot of people including myself that still had to travel didn't feel comfortable staying in hotels and air bnb gives you a sense of privacy and safety. I know when I come to CT I use airbnb .

It plays a small role. Business travel is the straw that stirs the drink (To quote Reggie Jackson) in hospitality. Without them, at pre covid numbers, a ton of hotels, all over, fail.

Business has, in tons of cases I am aware of, recognized that lots of travel is unneeded and technology can often substitute in its place. That's a hotel industry game changer. It's one of the few things that changed first due to covid, which will stick and should have been done long before.

[BPt111]

https://www.youtube.com/watch?v=Xk2igVhVuLA

[ConnecticutSir]

Have they started any of the planned renovations for the XL Center yet?

[JayCT]

Originally Posted by ObedientSir

Have they started any of the planned renovations for the XL Center yet?

I don’t think so. The last I heard the XL was being considered for a regional gambling parlor. I don’t think you will see anything until that is figured out. Jay