The Book-Cadillac Hotel -- will it survive and thrive? (Detroit: apartments, hotels)

[Bhaalspawn]

In yesterday's (Sunday's) paper a Free Press columnist (Stephen Henderson I think) said that he thought that the City and the community need to improve the area surrounding the newly renovated and reopened Book-Cadillac Hotel in downtown Detroit, which, in my mind raises a couple questions:

Was the newly renovated and reopened Book-Cadillac needed? Will it be able to survive and thrive? Will the area that surrounds it bring it down?

[dre71]

I`m not sure if it was needed but the company got some kind of deal to redevelope it.

With this tough economy and the problems facing detroit it might not survive. It just had a grand opening so people came to see it but it could end up like the casino hotels and not even fill half the hotel rooms.

The area around it is a negative but I think a combination of things will probably bring it down.

[Dexterguy]

Who stays in Detroit? There are never any conventions or events, except for the Auto Show. But dozens of hotels can not live off of one event. It just seems like there are SO MANY hotels in Downtown and no one really visits Detroit as a tourist city. And honestly don't know how they can hold on at this time??
*Sheraton
*Marriot at the Ren Cen
*MGM Grand Casino Hotel
*MotorCity Casino Hotel
*Greektown Casino Hotel (Opening soon; and a big mistake project)
*Westin Book-Cadillac (Now Open)
*Fort Shelby Hotel (Under renovation)
*One is across of the Ren Cen, I can't remember the name right now.

[STLCardsBlues1989]

Maybe a couple of the renovated ones should've been apartments instead of hotels.

[Bhaalspawn]

Originally Posted by Dexterguy

*One is across of the Ren Cen, I can't remember the name right now.

The Ponchetrain?

[maja]

Wow! I remember that hotel. We use to go down there at Christmas time. It was beautiful - don't make 'em like that anymore. Has anyone actually been inside it? Is it still as elegant? I'd love to see photos if anyone cares to post. (I've been out of MI for years now - lots of good, bad and interesting memories.) Thanks.

[dre71]

Originally Posted by STLCardsBlues1989

Maybe a couple of the renovated ones should've been apartments instead of hotels.

The problem with that is nobody would move into the apartments and they would probably be too expensive.

[Bluefly]

I, too, am perplexed at what market studies they are using to justify these massive investments. Maybe they're just like suburban developers and trying to score a greedy pull without concern for the effects.

I can understand a few major hotels downtown, but with the casinos AND Book-Cadillac, I just don't understand where the sudden demand is for that many hotel rooms.

[summer grace]

Originally Posted by dre71

The problem with that is nobody would move into the apartments and they would probably be too expensive.

I don't know anything about Detroit, but I like when they renovate old buildings, even if in this case it might not have been economically a good idea. So why would nobody move into the apartments? The bad neighborhood? Just curious. I think it is sad to see these buildings fall into the waste of abandonment like the Book- Cadillac, and nice when they are restored, however unrealistic it might be. These buildings are historic.

[ChunkyMonkey]

I think the Book-Cadillac probably positioned itself as the premium hotel offering in the city. Detroit still has lots of business traffic despite the economy and the B-C will be in a good position to take advantage of that. Were there any reports of the hotel's performance so far?