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#Post#: 483006--------------------------------------------------
Re: Hot Stove
By: CUBluejays Date: November 26, 2023, 6:38 pm
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Let’s just say the Cubs had so much in salary that they lost $50
million, but it built an amazing team that sold out Hotel
Zachary the rooftops and made the sport book popular. Chances
are decent that the Ricketts family would make up any loss with
the outside revenue.
The Cubs revenue was estimated by Forbes at $451 million in 2022
with Marquee not really being that great for them. Through in
increased ratings and playoff runs and that number will be much,
much higher.
#Post#: 483009--------------------------------------------------
Re: Hot Stove
By: davep Date: November 26, 2023, 7:58 pm
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The Cubs play about 81 days per year in Chicago. Who will fill
the Zachary the other 284 days?
#Post#: 483010--------------------------------------------------
Re: Hot Stove
By: CurtOne Date: November 26, 2023, 8:13 pm
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[quote author=davep link=topic=630.msg483009#msg483009
date=1701050333]
The Cubs play about 81 days per year in Chicago. Who will fill
the Zachary the other 284 days?
[/quote]The hookers the Cub fans left behind.
#Post#: 483011--------------------------------------------------
Re: Hot Stove
By: CUBluejays Date: November 26, 2023, 8:57 pm
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[quote author=davep link=topic=630.msg483009#msg483009
date=1701050333]
The Cubs play about 81 days per year in Chicago. Who will fill
the Zachary the other 284 days?
[/quote]
Are they checking out and in on off days? Chances are it is
probably going to be a multi-day to week long vacation.
#Post#: 483013--------------------------------------------------
Re: Hot Stove
By: davep Date: November 26, 2023, 10:19 pm
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Unless it is a really long multi-day vacation, the Cubs won't
bring in a lot of visitors from sometime in October until April.
#Post#: 483014--------------------------------------------------
Re: Hot Stove
By: CurtOne Date: November 26, 2023, 10:38 pm
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Do you actually have numbers for the Zachary for the whole year?
Not sure they have rooms available every night and the Cubs
ain't playin' lately.
#Post#: 483016--------------------------------------------------
Re: Hot Stove
By: chgojhawk Date: November 27, 2023, 7:14 am
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I’m sure “the Zachary” does as well (or better) than any other
hotel in Wrigleyville during the off-season. I’m also confident
that pricing fluctuates based on home games, seasonal travel and
other influences that impact travel.
I’m sure the hotel does quite well during the season to make up
for the off season.
#Post#: 483030--------------------------------------------------
Re: Hot Stove
By: davep Date: November 27, 2023, 12:48 pm
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I agree. But in the context of the discussion, how much extra
profit would the hotel make if they were to sign Ohtani. And
why should the Ricketts family put that money into the Cubs,
which is a different entirely? I have seen no indication that
other owners devote their entire fortune to the team they own.
And the few that do, soon back away from it, as the Mets
ownership did after only three or four months.
#Post#: 483032--------------------------------------------------
Re: Hot Stove
By: wmljohn Date: November 27, 2023, 1:12 pm
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I heard from a friend that knows a kindergarten teacher who
publishes a monthly newsletter that Ohtani would be signed by
the Cubs before the week is out.
#Post#: 483035--------------------------------------------------
Re: Hot Stove
By: chgojhawk Date: November 27, 2023, 1:33 pm
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The Ricketts family owns a ton of different ventures and earned
their fortune well before buying the Cubs (obviously). The
intent of the family was to use some of their fortune in running
the Cubs. After suffering losses (on and off the field) some in
the family weren’t too keen on continued investments toward the
Cubs.
The family worked out a plan where a capital investment company
was created with investors, independent of the family, for the
purpose of Cubs related business. My belief is that businesses
included in this investment portfolio are pooled together for
the greater good of all investments.
Here is a relatively early release from the group:
Hickory Street Capital (HSC), a real estate development company
owned by the Ricketts family, is building a lifestyle mixed-use
development adjacent to Wrigley Field. The development will
consist of two main buildings and a community-oriented open air
plaza. The first building will be anchored by the new home of
the Chicago Cubs front office and will also include various
mixed-use retail tenants and an American Airlines conference
center. The second building will be anchored by Hotel Zachary
and will include various mixed-use retail locations and a below
grade parking structure. The open air plaza will be a community
gathering place featuring decorative landscaping, welcoming
green space, playful water features and many park like elements
that will help serve as the town center of Wrigleyville.
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