4 ms·

Owner gives up 2 big S.F. hotels expects city’s recovery to take up to 7 years

16 points by latchkey 3y ago

mattnewport 3y ago
"reflected a plunge in bookings and a pandemic recovery expected to take far longer than expected." Expected to take far longer than expected is a rather strange phrasing...
- filoleg 3y ago
  I personally took it as "expected to take far longer than [initially] expected".
moomoo11 3y ago
Turn it into a startup hotel. Give startup founders and their teams a place to live with some conference room setups and what not. I’d pay 2500 to 3500/mo to live in such a setup if I get a hotel room, and regular cleaning. Maybe less rent with a number of shares or equity in the business. Worst case scenario you make some money. Best case scenario you make a fuck ton.
- dilyevsky 3y ago
  Flex offices where you can legally sleep already exist in SF. We are renting one. About half of these are empty at our complex…
  - Tempest1981 3y ago
    What are the monthly rents like?
    - dilyevsky 3y ago
      10-20% cheaper than similar sized non-flex unit. They only rent these to companies so I'm guessing it reduces the demand pool.
Tempest1981 3y ago
I wonder if the recovery mirrors Caltrain ridership? Looking at the 2nd graph here, the recovery trajectory looks like at least 7 years: https://caltrainridership.com/ https://caltrainridership.com/ Or will the AI boom accelerate this?
pseudocomposer 3y ago
If the city made an actual progressive public investment, and simply turned these buildings into (reasonably) affordable housing, they could easily kick-start a long overdue development density increase. SF is such a nice place to live, and could be such a nice community. It’s a shame that local politics has made it impossible for people who don’t come from money or exploit others to survive there.
- up2isomorphism 3y ago
  There is nothing really “affordable” in SF, if you are in touch with the reality.
  - pseudocomposer 3y ago
    Nor will there ever be, unless the “ever-faster-increasing property value” political-real estate complex entrenched in the area is sacrificed for the public good.

16 points by latchkey 3y ago

"reflected a plunge in bookings and a pandemic recovery expected to take far longer than expected." Expected to take far longer than expected is a rather strange phrasing...

filoleg 3y ago
I personally took it as "expected to take far longer than [initially] expected".

moomoo11 3y ago

Turn it into a startup hotel. Give startup founders and their teams a place to live with some conference room setups and what not. I’d pay 2500 to 3500/mo to live in such a setup if I get a hotel room, and regular cleaning. Maybe less rent with a number of shares or equity in the business. Worst case scenario you make some money. Best case scenario you make a fuck ton.

dilyevsky 3y ago
Flex offices where you can legally sleep already exist in SF. We are renting one. About half of these are empty at our complex…
- Tempest1981 3y ago
  What are the monthly rents like?
  - dilyevsky 3y ago
    10-20% cheaper than similar sized non-flex unit. They only rent these to companies so I'm guessing it reduces the demand pool.

Tempest1981 3y ago

I wonder if the recovery mirrors Caltrain ridership? Looking at the 2nd graph here, the recovery trajectory looks like at least 7 years: https://caltrainridership.com/ https://caltrainridership.com/ Or will the AI boom accelerate this?

pseudocomposer 3y ago

If the city made an actual progressive public investment, and simply turned these buildings into (reasonably) affordable housing, they could easily kick-start a long overdue development density increase. SF is such a nice place to live, and could be such a nice community. It’s a shame that local politics has made it impossible for people who don’t come from money or exploit others to survive there.

up2isomorphism 3y ago
There is nothing really “affordable” in SF, if you are in touch with the reality.
- pseudocomposer 3y ago
  Nor will there ever be, unless the “ever-faster-increasing property value” political-real estate complex entrenched in the area is sacrificed for the public good.