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mattyt36

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  1. Highly doubtful interest rates for a hotel development (whose business is predicated on conventions, no less) at this point are lower than what they were at the beginning of the year due to widening of credit spreads. It's a common misconception that just because the Fed Funds rate is low doesn't mean it translates 1-for-1 to borrowers, or that borrowers can get credit in the first place.
  2. It's difficult (for me, at least, not working in oil) to think of assumptions under which the oil industry as we know it returns. The size of the financial sector relative to the size of the city has been pretty awful since the S&L crisis. And Dallas is the regional hub by far of the national banks. I was using "back office" as more of a metaphor . . . what decisions of grand importance get made in Dallas? It's really just a bland consumer-oriented city. But, yes, attracting any new professional service sector "good jobs" in number not tied to the ener
  3. I understand the logic but I think if you dove deeper into Detroit's postwar economic statistics through the 1970s you would see they were way less diverse, plus tremendously large factories shuttered, each employing tens of thousands of working class people. With the deep racial tension, it was a powderkeg. In the Midwest I think a better corollary is Chicago . . . Chicago really hasn't recovered fully from the 1970s itself but has always had a very active business community and stable urban neighborhoods that people don't want to leave. Of course I hope Houston never becomes as
  4. Interesting theory, although by the same token, seems to me that the lack of a visible upside in the industry any time soon, if ever, would make the city a very attractive target for companies interested in hiring qualified engineers. I don't think of Dallas as much more than a back office city, but obviously I'm biased. In any case, we can't deny that the City has been a magnet for migration, both domestically but especially internationally, despite not being a magnet for corporate relocations. And it's been my experience that the majority of people who live here love it and if
  5. Not sure why the current administration (if you mean Turner) deserves blame for not attracting new non-energy companies here. We haven't competed seriously in a long time. The periodic energy sector relocations like Oxy clouds everyones' mind, I think. Does anyone even remember the last non-energy company that moved HQ here, not to mention one that set up shop downtown? I'm at a loss. Continental? That doesn't even really count considering TI was here before. Major corporate expansion? Ford? That was a call center. Seems like the major announcements have been more in the indus
  6. Discussion of conversion of vacant space from March 2019 (probably not the best title)
  7. Yes, my apologies. The fall numbers reported them separately and the spring numbers reported them together. I just don't think the absorption number is reliable because I think we would have heard of it.
  8. Spring 2020 update. The Pennzoil Place number shows a lot of absorption . . . I'm not sure what lease that would've been or if Fall 2019 was in error. (Or maybe sublease excluded?) Address Bldg name Total space Avail space-Fall 2019 Vacancy-Fall 2019 Avail space-Spring 2020 Absorption Vacancy-Spring 2020 800 Bell Old Exxon 1,314,350 1,314,350 100% 1,314,350 0 100%
  9. Erm, I wouldn’t call JW Marriott “ultra luxury” any more than I’d call W “luxury.”
  10. Does the Moxy qualify as a "micro hotel"? (Any one know what is going on with that, BTW?)
  11. Well that's great news . . . new concepts and renders always bode well. I mean developers always restrain the bold, imaginative, and fanciful until a budget is involved. 🙄
  12. FWIW, the Embassy Suites itself is one of the best ones I've ever stayed in, and I've stayed in plenty.
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