Mt. Olympus buys up and improves hotels on Dells strip

Posted | Contributed by Jeff

Over the last three months, Mt. Olympus owner Nick Laskaris and his wife have purchased six motels and hotels, primarily along the west side of Wisconsin Dells Parkway, commonly referred to as "the strip." Most of the properties are outdated, so a crew of about 30 workers is busy this winter tearing out carpeting, replacing furniture, light and plumbing fixtures and painting. Laskaris said he is spending about $20 million to purchase and remodel the properties. The resort will have about 1,000 rooms.

Read more from The Wisconsin State Journal.

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Since this reigon is so densly populated, there is no need for a hotel. Tens of millions of people live right near it. There already is sufficient lodging nearby to account for the people that need it.

Does Magic Mountain have a hotel on site, run by Six Flags? It would seem to me if you dont have one there (in a place that is actually a destination) it's absurd to build one in NJ with 3 warm months a year.

Lord Gonchar's avatar

billb7581 said:
Since this reigon is so densly populated, there is no need for a hotel. Tens of millions of people live right near it. There already is sufficient lodging nearby to account for the people that need it.

Does Magic Mountain have a hotel on site, run by Six Flags? It would seem to me if you dont have one there (in a place that is actually a destination) it's absurd to build one in NJ with 3 warm months a year.

Saying it more doesn't make it true.


ApolloAndy's avatar

And again, the issue isn't how many people don't want a night at the hotel. It's how many people would be willing to pay for a night at a hotel. If there are 250 people willing to pay for a night, it doesn't matter whether there's 1 or 100 or 10,000,000 or 7 billion people who don't. The hotel would still turn a profit.


Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."

Lord Gonchar's avatar

None of it's an issue. We now know it's a matter of infrastructre - or the lack thereof.

It's said pretty much flat out - the company still talks about the 2005 plans for a hotel with the township, but (according to sources within the township) haven't built because of the lack of city water and sewer.

No inferring. No guessing. No anecdotal stories. There's the answer.

Last edited by Lord Gonchar,

It wouldn't turn a profit because it would sit idle 7 or 8 months every year.

Lord Gonchar's avatar

Ooooh. So close. Try again.


Lord Gonchar said:
None of it's an issue. We now know it's a matter of infrastructre - or the lack thereof.

It's said pretty much flat out - the company still talks about the 2005 plans for a hotel with the township, but (according to sources within the township) haven't built because of the lack of city water and sewer.

No inferring. No guessing. No anecdotal stories. There's the answer.


And those hurdles must be too costly to make the project worth it in the first place.

If it were able to make a profit greater than the vig on a loan, someone would finance it. That's how capitalism works.

Last edited by billb7581,
Tekwardo's avatar

And those hurdles must be too costly to make the project worth it in the first place.

Or, you know, more likely, the city has yet to do their part and put in any infrastructure. Maybe it is too costly for the city, who wouldn't see enough of an impact from taxes from a hotel to bother. Doesn't mean that Six Flags doesn't see it as something worthwhile.

Not that that has anything to do with your arguement that there isn't one there because there's never been one...because the area is too densly populated.

Seems to me that as I've stated numerous times, someone DOES see that there is a need for there to be a hotel because apparently they think enough people will stay. Which goes against everything you've argued. An arguement based on what you've seen in ONE visit to the park in a 23 year time frame.

Kinda invalidates your arguement that you saw all those license plates in the lot...once...3 years ago...and that's why there's no hotel there.

Last edited by Tekwardo,

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Lord Gonchar's avatar

billb7581 said:
And those hurdles must be too costly to make the project worth it in the first place.

If it were able to make a profit greater than the vig on a loan, someone would finance it. That's how capitalism works.

Obviously.

So the reason there's no hotel is because there's no public water and sewer.

We're in agreement.

If there were city water and sewer, the hotel would have been built. (which is - perhaps not so ironically - the only reason you didn't give)


Like I said, if the project were viable, someone would have financed it by now.

The project cant get out of it's own way because there is no water and sewer there. If it were a sure fire profitable deal, those hurdles would be easily overcome. Unfortunately a few enthusiasts and a 42 percent occupancy rate aren't going to keep a hotel afloat.

Lack of sewer and water didn't stop Warner LeRoy from sticking a huge amusement park there.

15 thousand people make a lot more poop then the hypothetical 1000 we're talking about.

Last edited by billb7581,
Tekwardo's avatar

But that's not the reason you gave. You said that no one would stay there because when you went (3 years ago, for the first time in 20 years) the cars in the lot showed that it was all 'locals' who you said wouldn't stay. And you said the reason it isn't a viable project is because it hasn't been done before. And you said it wasn't a viable project because it wouldn't make money for several months out of the year. Or that they'd have to add other amenities. Or some other crap.

You never said that maybe it was because the cost to get utilities wasn't a priority for some entity, although some of us have alluded to that, and the article all but confirms as much.

So, no, it's not 'like you said'. It has nothing to do with what you said.

Lack of sewer and water didn't stop Warner LeRoy from sticking a huge amusement park there.

But times and standards are different. Perhaps the current state of utilities and infrastructure would need a large overhaul that must be approved by the city. The reason it hasn't been done may not even have to do with GADv not wanting to put up the money, but the city not approving certain things...yet.

Or, you know, with the changes in management, maybe they just weren't focusing on adding the infrastructure needed.

Which means it still could be done, which is something you seem to argue will never happen (or at least you were arguing it until Gonch posted that article).

Last edited by Tekwardo,

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kpjb's avatar

Oh, good... a new argument why it won't work. That should keep this thread viable for another 3 pages or so. :)


Hi

Lord Gonchar's avatar

billb7581 said:
The project cant get out of it's own way because there is no water and sewer there. If it were a sure fire profitable deal, those hurdles would be easily overcome. Unfortunately a few enthusiasts and a 42 percent occupancy rate aren't going to keep a hotel afloat.

Lack of sewer and water didn't stop Warner LeRoy from sticking a huge amusement park there.

Oh, I see. Your ideas and theories are more valid than actual word from people involved.

Sorry, my mistake.

15 thousand people make a lot more poop then the hypothetical 1000 we're talking about.

And if this thread has taught me anything it's that some people are more full of poop than others.

Last edited by Lord Gonchar,

You never said that maybe it was because the cost to get utilities wasn't a priority for some entity, although some of us have alluded to that, and the article all but confirms as much.

So, no, it's not 'like you said'. It has nothing to do with what you said.


Really?

http://coasterbuzz.com/Forums/Thread/58437.aspx?page=12#832455

[:

Oh, I see. Your ideas and theories are more valid than actual word from people involved..

Seems to work for everyone else in this thread.

Tekwardo's avatar

I'm sorry, I missed that you said that earlier today. My bad. Still, that's the first time you said that...today. It hasn't been the core of your arguement at all.

And when did quoting and relying on comments from people actually involved become ideas and theories?

And even so, that's still a comment based on the theory that Six Flags is the holdup. You don't know that. It could have been negotiations with the city that has become the holdup. Or changing management. Or the economic crisis. But none of those things mean that, contraty to what you've argued from the beginning, there isn't money to be made or that people wouldn't stay there. Also doesn't mean it won't be something that could come in the not so distant future, which you've also argued against.


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If there was that much money to be made, the hurdles would have been overcome by now. The place has only been there for 40 years.

Tekwardo's avatar

I'd love to live in the world you do, where things are simple, just because. In case you haven't noticed, politics in the real world don't always let things take place so easily.

And like I said, Carowinds has been around just about as long, and they're planning on adding an onsite hotel. So the whole 'They haven't done it in 40 years" theory is garbage.


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ApolloAndy's avatar

I have never been to Japan in my 31 years. I guess I better get used to the fact that I'm never going.


Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."

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