Comments on: Hard Rock Hotel San Diego – Buy Me??

By: Denny Oh

Denny Oh — Tue, 16 Jun 2009 22:23:20 +0000

Spud,

Thanks for the info. Hopefully we’ll start to see some more traffic and occupancy rates will recover. Most people I’ve spoken to at the Hard Rock are happy with the condos, but not so happy with the finances – rather lack of finances. Good luck.

By: Spud

Spud — Thu, 11 Jun 2009 21:53:56 +0000

Occupancy rates have been around 70% for my unit, but as low as 45% in slow months…and the actual split on the revenue is more like 60/40 in favor of the hotel (not including your HOA fee’s). Since the economy has hit the skids, the room rates have basically been cut in half, seeking people to stay there.

By: Denny Oh

Denny Oh — Mon, 23 Feb 2009 20:14:30 +0000

CITI boy,

I’m not sure what the exact breakdown is, but more or less, I believe there is a small fee paid to the Hard Rock franchise and then the house and owner split the proceeds. The hotel would be able to get you the exact breakdown, but from what I’ve heard, you get somewhere around half of the rental income.

As for occupancy rates, I have no idea where they’re at now. I would imagine that they would capture a lot of the downtown hotel market, but at the same time, we all know the economy is in terrible shape. I can say from personal experience, I’ve seen the place PACKED both during the week (conventions) and on the weekends.

By: citiboy

citiboy — Mon, 23 Feb 2009 04:45:27 +0000

Denny
GREAT READ.
You”ve answered many of the questions that I had.
Still unanswered,the percentage taken by the house for management, and the occupancy rate that can reasonably be expected.
Your explanation of just how much 28 vacation days are puts that in great perspective.
The real CITI boy