NorthIowaToday.com

Founded in 2010

News & Entertainment for Mason City, Clear Lake & the Entire North Iowa Region

Op-ed: Regarding the Historic Park Inn (by Peter Children)

An interesting point was recently brought up concerning the Historic Park Inn Hotel. Considering the fact that it is publicly funded, all aspects of its operating aspects should become public.  In other words the public should by all measures be informed on a regular basis, say quarterly, of their operating costs and gross intake.

I have long said it will never cash flow, it is impossible to show a profit with 27 rooms no matter how much they charge for them.  By the time they pay the utilities they would be lucky to make payroll.

It is rumored that they have a operator for the alleged 5-star restaurant but even if it is true, the tenant won’t last long enough for the cream to turn sour; why? The rent is too high.  Whoever is running that show has no idea of reality. On top of the rent I was told the hotel expects percentage of the gross…but I can’t verify that.  The figure I heard on the rent was $8,000.00 per month.  Somebody is smoking dope.  How can you allude to 5-star food on a facility that isn’t even open yet?

That said it is very beautiful from the outside. I hope it remains open as it is a tremendous draw for this city.  In my opinion we should stop giving the museum $265,000.00 year and give that money to the hotel….they are going to need it…and more.

Peter Children

0 0 votes
Article Rating
Subscribe
Notify of
guest

17 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments

Even more news:

Watercooler
Copyright 2022 – Internet Marketing Pros. of Iowa, Inc.
17
0
Would love your thoughts, please comment.x
()
x