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https://www.cincinnati.com/story/money/2019/11/12/millennium-hotel-shut-down-new-years-eve/2572571001/


Millennium Hotel will officially shut down December 31st.

 

Hopefully the port authority comes up with a plan quickly, because you are essentially cutting ties with nearly 900 hotel rooms. I imagine this will be a slight strain for convention business until a redevelopment plan is put into work. 

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THe worst thing that could come from this is that they close this down and it sits vacant for years until they come up with a plan on what is going to happen next. I think this is the likely scenario as it does not seem to be that there is a cohesive plan going forward. Don't close the hotel down until you know what you are doing first.

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^I would bet they get moving quickly on this, like how the new Kroger came about, move quickly from demolition to construction, I doubt it sits around vacant for a long time a la Fourth and Race.

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I suspect they want to create a desperate situation so they can ram through whatever their plans are (which will include hotel rooms, of course) as an "emergency fix" with little debate about closing off streets or whatever they want to do which might create some push-back,

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My hope would be that because they are shutting down, they feel he county will close on the property and because the county is closing on property they are farther along in their planning then the public is aware. This whole thing seems to be moving very quickly compared to other projects. To shut down a hotel with 900 rooms the county must be pretty confident of their plans.

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29 minutes ago, jmblec2 said:

My hope would be that because they are shutting down, they feel he county will close on the property and because the county is closing on property they are farther along in their planning then the public is aware. This whole thing seems to be moving very quickly compared to other projects. To shut down a hotel with 900 rooms the county must be pretty confident of their plans.

 

Agreed. If the county genuinely didn't care about the status of the millennium/need for an expanded convention hotel then why even begin the process of shutting down the millennium? You only put yourself Ina bigger hole and will only damage the convention center even further with the lack of a dedicated convention hotel on top of losing 900 hotel rooms. Not redeveloping this site quickly only hinders their whole mission.

Edited by troeros

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There are a bunch of other smaller hotels under construction that are supposed to be finishing up in the next year.  Ingalls building, Anna Louise Inn, the two on 7th and race, Traction building.  I know these are all much smaller, but in total, that could help alleviate some of the pressure.

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Slightly off topic. But I’m surprised there’s been no movement to get a boutique hotel in OTR. This would be in high high demand 

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34 minutes ago, JoeHarmon said:

There are a bunch of other smaller hotels under construction that are supposed to be finishing up in the next year.  Ingalls building, Anna Louise Inn, the two on 7th and race, Traction building.  I know these are all much smaller, but in total, that could help alleviate some of the pressure.

 

Yeah but most out of town convention folks want a direct access HQ convention hotel. It's stupid.

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22 minutes ago, atlas said:

Slightly off topic. But I’m surprised there’s been no movement to get a boutique hotel in OTR. This would be in high high demand 

 

The old school for performing arts building at sycamore street was slated to be a hotel at one point

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3cdc had proposed a boutique hotel on 12th next to Zundo in an Historic building that used to be a medical school or something if I remember correctly.  That project seems to have been shelved.

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3 hours ago, IAGuy39 said:

^I would bet they get moving quickly on this, like how the new Kroger came about, move quickly from demolition to construction, I doubt it sits around vacant for a long time a la Fourth and Race.

 

 

Heard Julie Calvert on the radio today. Essentially, they are working on the plans for what to do. Don't know if they will expand over Elm or go North over 6th Street. That could be months away. If you don't have the plan for building the convention center expansion, then to me it makes it hard to move ahead with the construction of the new hotel. obviously the drawings reported on last month are far from coming to fruition. My big concern is that they close this asset which is performing, tear it down, and then not have a viable plan for moving forward, or it gets mired in city politics. We are then stuck with an empty lot for a few years until city council gets its head out of its a$$ and figures out a viable plan.

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18 minutes ago, Brutus_buckeye said:

 

 

Heard Julie Calvert on the radio today. Essentially, they are working on the plans for what to do. Don't know if they will expand over Elm or go North over 6th Street. That could be months away. If you don't have the plan for building the convention center expansion, then to me it makes it hard to move ahead with the construction of the new hotel. obviously the drawings reported on last month are far from coming to fruition. My big concern is that they close this asset which is performing, tear it down, and then not have a viable plan for moving forward, or it gets mired in city politics. We are then stuck with an empty lot for a few years until city council gets its head out of its a$$ and figures out a viable plan.

 

The enquirer reported millennium has a 30 percent occupancy rate, has a multitude of failed inspections, severely understaffed (100 employees for a nearly 900 room hotel?), and is a magnet for illegal and illicit activity. 

 

This place is a problem and neglected property. Not a performing asset.

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9 minutes ago, troeros said:

 

The enquirer reported millennium has a 30 percent occupancy rate, has a multitude of failed inspections, severely understaffed (100 employees for a nearly 900 room hotel?), and is a magnet for illegal and illicit activity. 

 

This place is a problem and neglected property. Not a performing asset.

1)  That is still fine. You operate at one tower. You still collect taxes on those rooms to continue to contribute to the overall downtown room pot. Maybe those rooms go somewhere else in the city maybe they don't.

 

2) It is easier to keep an operating property up as opposed to a vacant one. I know it is subject to demolition, but do we want another white elephant like the Terrace Plaza to deal with. Not a problem if they tear it down in early 2020, but again, without a plan, why have an empty lot for a few years at such a prominent corner.

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2 hours ago, troeros said:

 

Yeah but most out of town convention folks want a direct access HQ convention hotel. It's stupid.

 

I can maybe speak to a little just as experience doing conventions elsewhere, when you are setting up a booth and up at 6 am for meetings at 7 am the whole time then meetings after until 9 pm, it's nice to be right next to the convention center. They really are a ton of work.

 

I've done shows in Vegas and KC and Bangkok and others, and the one in Vegas is always a major drag because you have to walk a mile and a half to get to the covention center, stand around all day passing out cards, then walk all the way back. You don't ever have any time to actually check out any of the cities at all. Maybe you would go for  a walk down to the park, but really by the end of the day and all the meetings all you really want to do is go back to your room, take a shower, stretch, then go to bed.

 

Long story short, the need for a high class hotel right next to the convention center is necessary.

 

What conventions do help is the hotel tax revenue and some restaurants close by (including famous city restaurants for more power meetings) and it would help the further out hotels I assume a bit in regards to the visitors of the conventions (buyers and manufacturer reps) (though not necessarily).

 

Convention Centers IMO really aren't a massive economic generator besides hotel tax revenue which is an important part of a city's book but it doesn't drive economic development at all really in the surrounding areas, similar to stadiums in a few ways but actually probably help out with employment better with hotel jobs.

 

Something like the streetcar probably generates (just completely spitballing) but probably 8x money multiplier where a convention center is probably 1.5x money multiplier and stadiums are probably 0.5x AT BEST or most likely a massive negative multiplier like Paul Brown stadium.

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I've got it.  The City and County will get together and demolish a key piece of real estate with plans to re-develop it as an economic engine for the area.  Sounds strangely familiar to The Banks, which is years behind schedule and an economic failure for most businesses except on Reds game days, because the City and County can't get along.

Edited by thesenator
grammar

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3 hours ago, troeros said:

 

The enquirer reported millennium has a 30 percent occupancy rate, has a multitude of failed inspections, severely understaffed (100 employees for a nearly 900 room hotel?), and is a magnet for illegal and illicit activity.

 

Geesh.  Just wait until The Enquirer hears about The Budget Host.  

 

But seriously, the blue bloods put The Enquirer up to run hit pieces against The Millennium for years.  Their bed bug investigation came up with nothing.  

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6 hours ago, thesenator said:

I've got it.  The City and County will get together and demolish a key piece of real estate with plans to re-develop it as an economic engine for the area.  Sounds strangely familiar to The Banks, which is years behind schedule and an economic failure for most businesses except on Reds game days, because the City and County can't get along.

 

Isn't the banks almost at 90% occupancy with their retail tenants. The banks is super popular on weekends and its been a hot minute since a business has closed and in just the past year opened a planet fitness, a Smoothie King, a classy night club/resturaunt in Galla Park, a great ferris wheel that still draws lines, and a pop up retail shop ran by Agar.

 

So I'm not understanding this constant narrative of the banks is this disaster when I consistently see families and kids drawn to smale riverfront park, to the ferris wheel, to canados tacos, to taste of Belgium, etc...

Edited by troeros

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