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Post by Ed Rosenberg on Feb 14, 2005 16:44:26 GMT -5
Here is Pat's most recent reply...
"Hi,
We still have about 190 motels that are members of the Greater Wildwood Chamber of Commerce. There are more than 190 motels on the island. They are not all members of our Chamber."
I did a quick count in the Yellow Pages and came up with about 275 motel phone numbers in the Wildwoods.
Putting all this info together, I would bet the Island has lost 15-20% of its rooms.
Pretty amazing.
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Post by Ed Rosenberg on Feb 14, 2005 16:51:25 GMT -5
And...
The Wildwoods may have 903 condos for sale.
The island is getting rid of all its motel rooms and replacing them with condos it may not be able to sell...or rent.
This is nuts.
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Post by palm203 on Feb 14, 2005 18:02:58 GMT -5
Did you also take into count that people that rent condo's buy or bring their own for the week? That hurts the restaurants and boardwalks. When is the Wildwoods going to learn that the people of NJ support the shore? Why build 25 story hotels? Just demolish old ones and replace with the same. Renovation on hotels might be quicker, but the costs are not profitable for owners. It's going to be sad to see the Oceanview, a 100 plus hotel go after 2005 season. There is Wildwood Crest property across the street that is prime. Keep up the good information. We need the numbers or statistics for a convention person like me to present to our associations. The fire fighters help build the convention center and now we will lose our rooms to the condotels. Really ridiculous.
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Post by Ed Rosenberg on Feb 14, 2005 18:19:39 GMT -5
I am also wondering about the condotels.
How can they compete with a hotel?
In a condotel there is a middleman/woman...the condo owner. If accommodations are similar in the two, it would seem that rental prices in a condotel would have to be a bit more.
I strongly advise anyone who may be considering investing in this concept to do his/her homework before jumping into something that could be a real loser.
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Post by MMM on Feb 14, 2005 19:20:25 GMT -5
It's going to be sad to see the Oceanview, a 100 plus hotel go after 2005 season. There is Wildwood Crest property across the street that is prime. I agree. I can't see why a fine place like the Ocean View (I still consider it the Admiral East would be demolished when there is still plenty of open spaces on Ocean Avenue to build. It even has that little golf course. While it's nice to have a few open pieces of land, it'd be much better to build there than destroy what we have.
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Post by Ed Rosenberg on Feb 14, 2005 20:43:22 GMT -5
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Post by Ed Rosenberg on Feb 14, 2005 20:49:53 GMT -5
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