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Sounds like the words of someone that overpaid for a business/property. Or extracted too much capital when they could instead of paying down debt and got trapp
by Scoundreller 4y ago
Sounds like the words of someone that overpaid for a business/property.
Or extracted too much capital when they could instead of paying down debt and got trapped under a rock when interest rates went up.
- phpisthebest 4y agoThe hotel or the businesses with the cap? Speaking for my org personally we have zero debt, and are cash positive largely because policies like a hotel expense cap that prevent sales people from draining to company coffers
- Scoundreller 4y agoThe hotel, or any other business really. If I buy a farm/restaurant/hotel/retailer for top dollar and complain about cost of wages making it unprofitable, the problem isn’t the wages. But you’re stuck with your acquisition price, so you’ll lobby for lower wages and make no mention of your sunk costs.