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Post by Ed Rosenberg on Feb 9, 2005 18:40:08 GMT -5
What percentage of total motel rooms available in the Wildwoods have been eliminated in recent years?
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Post by Al Alven on Feb 9, 2005 18:45:45 GMT -5
That's a great question, Ed.
I'm going to check with the Greater Wildwood Hotel & Motel Association and the Chamber of Commerce to see if either has a definitive answer.
I'll let you know soon...
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Post by Ed Rosenberg on Feb 9, 2005 19:07:41 GMT -5
Thanks, Al.
We might learn something from that information.
It would be interesting to learn, too, how much room tax revenue has been or will be lost. This money, I believe, is earmarked for promotion of the Wildwoods.
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Post by FlyinGN on Feb 11, 2005 7:46:26 GMT -5
a guess off the top o my head is about 5%.. Good point Ed..
Frank
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Post by Ed Rosenberg on Feb 11, 2005 9:51:17 GMT -5
Interesting, Frank.
If your estimate is accurate, then I would assume that the Doo Wop movement is not in immediate danger. In fact, the loss may create a bit more business for those that remain which should help owners who have experienced a loss the last couple of years.
More business might be an incentive to keep a motel rolling...and a good selling point for those interesting in buying a local motel.
Here is a thought...
As much as the advocates of Doo Wop preservation do not want to see any motel destroyed, perhaps, it might be beneficial to do so.
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Post by Ed Rosenberg on Feb 11, 2005 9:54:17 GMT -5
I have read, by the way, reports coming out of Wildwood and Cape May that business was down 25% last summer.
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Post by Ed Rosenberg on Feb 11, 2005 11:01:33 GMT -5
Here is another thought that may be relevant...
I just got off of the phone with a local realtor. He tells me, and I do not know if this is fact, that there does not appear to be a big demand for condos currently in the Wildwoods. Approximately 500 new units are now or shortly will be available. More currently owned condos, in his view, will be available soon as disenchanted owners put them on the market. It appears that promises by area agents of seasonal rental income are not panning out.
Perhaps, the future for Wildwood motels is not as bleak as we may think.
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Post by AnthonyV on Feb 11, 2005 15:46:14 GMT -5
As of last year (October 2004) there was approximately a 10% reduction of motel rooms due to demolition according to one high-end realtor just in Wildwood Crest alone - and most realtors do know that the condo craze is something that has not been met with any great aceeceptance on behalf of vacationers.
Whether or not that figure is right I don't know. I think a quick inquiry with ther Chamber of Commerce would know though.
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Post by Ed Rosenberg on Feb 11, 2005 16:45:59 GMT -5
I just e-mailed the Chamber of Commerce. If I receive a reply, I will post it.
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Post by Ed Rosenberg on Feb 11, 2005 17:12:58 GMT -5
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Post by Doowopper on Feb 11, 2005 21:31:50 GMT -5
They are building so many condos but no-one wants to rent them, it's rediculous. But in the same sense it's good for us and Wildwood's future as over condo vacancy can be the downfall of the condos.
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Post by FlyinGN on Feb 13, 2005 15:39:52 GMT -5
Yep, if you notice lately.. there are wayyy too many "for rent" signs down there. It overrun with these signs! In ther past it was never like this.. AND the business has been dropping off lately.. Its true. Like I said before I know a few hotels owners and this came from them too. And I nitice the restaurant lines in August are not even slose as long as in the past. its a good sign that the amount of people that vacation in WW each summer is definaly dropping.. Frank
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Post by Ed Rosenberg on Feb 14, 2005 12:48:12 GMT -5
Pat from the Wildwood Chamber of Commerce just got back to me.
Unofficially 65 motels have been demolished. There is no count of how many rooms were in those motels.
I replied to Pat asking her for the total number of motels remaining.
This way we can get a pretty good picture of what is happening on the island.
By the way, a total count of rooms should exist somewhere. There is a room tax.
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Post by Al Alven on Feb 14, 2005 13:04:51 GMT -5
Great info so far, Ed!
Pat is very nice and always replies to my e-mails.
I have contacted the CoC's executive director, Andrew Cripps, who is also extremely helpful and resourceful.
As soon as I hear back from him (and/or someone from the Greater Wildwood Hotel/Motel Association), I will let everyone know.
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Post by FlyinGN on Feb 14, 2005 16:03:34 GMT -5
wow 65 hotels?? I would have figured less then 1/2 that. I guess my original % of total rooms lost is way low:(
Frank
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