CLT2014

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About CLT2014

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    Charlotte, NC

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  1. CLT2014

    The Good News Report

    Per capita income is up steadily since the recession (up 6.6% since 2009) in the Charlotte-Concord-Gastonia MSA, but it is still down compared to 2006/2007 due to declines in manufacturing as a component of the GDP (down about -11%) and a big spike in Finance/Insurance in 2006 (peak bubble season) that is down slightly today compared to that year. This isn't surprising when you think of the manufacturing layoffs that have impacted Gaston County, Cabarrus County (especially towards Kannapolis), Rowan County, even Mecklenburg, etc... and the more conservative banking environment today. Construction was flat in 2016 vs. 2006/2007 as our single family home boom is still down vs the real estate bubble prior to the recession, offset by more apartment construction in urban areas to result in flat construction GDP. Some highlights: Professional & Business Services GDP in the Charlotte metro is up 61% from $14 billion to $22.5 billion of the metro GDP, which likely disproportionately benefits Mecklenburg and York Counties. Education and Healthcare GDP has grown 26% since 2006. Arts entertainment and food service are up 33% since 2006. Total Charlotte MSA GDP has grown 15% since 2006 and 22% since 2010 (in 2010 our GDP bottomed out from the recession impacts at -6% below 2006 GDP). The BEA doesn't disclose specific numbers for some categories (such as Utilities), but includes it in the total number, as the data is considered confidential (i.e. Duke Energy probably makes up a significant portion of the Utilities GDP in Charlotte MSA).
  2. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    Yes, they have a power outlet under every seat and USB by the screen holder. Legacy A319 and Legacy A320 aircraft from US Airways are also getting in seat power at every seat as they add Main Cabin Extra and boost the number of seats in the aircraft by a row (add MCE and then take leg room away from everybody else / install slimmer seats). This will line up the row numbers with the legacy AA aircraft so they can swap planes back and forth on routes easier. Legacy US-A321 aircraft are not getting in seat power as these are just getting new seat covers rather than the ultra-slim seats and will eventually be replaced by the A321 Neo.
  3. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    Attention discount ticket shoppers: Your trip to the Alamo and River Walk has arrived. https://www.bizjournals.com/charlotte/news/2018/05/17/charlotte-douglas-adding-new-low-cost-seasonal.html Frontier's flights between Charlotte and San Antonio will begin August 12th, with service on Tuesday, Thursday, and Sunday Promo fares begin at $59 one way.
  4. CLT2014

    Charlotte Bike Sharing

    http://www.charlotteobserver.com/news/politics-government/article211336764.html Lime, Bird, and Spin approved by the city to bring 300 scooters to Charlotte. There is no regulation on where you can ride a scooter.... road, bike lane, sidewalk, etc... per the city.
  5. CLT2014

    SouthPark Mall

    Is Arhaus going in the former Pottery Barn kids space? That is the only spot I can think of with 7,000+ square feet. Trina & Turk looks like they sell clothing that would be popular in Charlotte. Other cities with a location: Palm Springs, CA; Los Angeles; Palm Desert, CA; Burlingame, CA; Manhattan Beach, CA; Newport Beach, CA; Miami; Houston; Dallas; Atlanta; Honolulu; New York City
  6. CLT2014

    1000 Room Convention Center Hotel

    https://www.sheddaquarium.org/globalassets/about_us/annual_report__financials/101809-shedd-aquarium-society-1217-final.pdf $34 million of the $59 million annual operating budget is from admissions. Membership and donations make up the second largest chunk of revenue at $12.3 million. The biggest thing Shedd has going is momentum. Established in 1930, it had the financial contributions of John Shedd to build the initial buildings, hire staff, etc... to get it going. Once it had that kick and a nearly 90 year legacy of fundraising and admission revenue, it operates self sufficient now.
  7. CLT2014

    1000 Room Convention Center Hotel

    I think everybody would be down for an aquarium if a rich person wanted to fund one (like the Shedd Aquarium, Georgia Aquarium, or Monterrey Bay Aquarium). Somebody with the money and passion behind it can truly build a great aquarium. Without the financial backing and commitment to operating a non-profit aquarium where the care of animals and research is a top priority... you end up with crappy for profit aquariums like SeaLife at Concord Mills where the overcharge you for a 20 minute walk through a fish tank. I honestly don't think the city and county would be able to execute on funding a quality $250 million + aquarium all on their own and have it turn out well.
  8. CLT2014

    Charlotte Tech News

    A 300 acre campus! Wow. I don't think Charlotte could have come close to providing a site with existing infrastructure in place like that without going to the outer edges of Charlotte (like the River District, which isn't close to shovel ready) or out to Indian Land, Huntersville, etc.... In addition to the tech force in Raleigh, Charlotte just doesn't have many 300 acre plots of land that have the infrastructure to support a shovel ready suburban office campus project like the RTP.
  9. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    Now that US Airways leadership is in charge of the combined American Airlines, those planes with the seat back IFE operating out of the legacy AA hubs, etc... won't be ordered any longer. Those planes were ordered prior to the merger by the former AA leadership. New AA will no longer invest in seat back IFE in domestic aircraft (see pictures of the 737 Max 8 below which will be the next 92 aircraft delivered). The 737 Max 8 offers 30 inch pitch (vs 31 - 32 inches on a ex-US A320/21), the smallest lavatories flying in the United States which got in an extra row of seats, no IFE, ultra-thin seats, smaller armrests, and no divider wall between first class and economy to get in an extra row of seats). It will come with a clip in the seat in front of you to hold your personal device since domestic aircraft going forward won't have seat back IFE. AA also has 100 A321 Neo aircraft on order that will be delivered without seat back IFE as well in a configuration similar to the 737 Max 8.
  10. CLT2014

    Charlotte-Douglas Airport (CLT) Expansion

    As soon as American Airlines determines it is a priority for CLT to rebuild the concourse it will happen. AA is in the driver seat for that decision, not the airport, based on the relationship. I think AA will ride this out as long as possible to keep their costs low. They don't care if the gate is crowded... they are about to pack you in a crappy airplane anyhow.
  11. CLT2014

    1000 Room Convention Center Hotel

    I doubt we would ever see a W whose brand is sexy and hip collocating their hotel with an aquarium or indoor water park that would mainly attract hoards of children and a valet line of Toyota Siennas and Honda Odysseys. Sounds more like what a Residence Inn with family friendly rooms or an Embassy Suites would want to be built near.
  12. CLT2014

    Good New Restaurants

    Cheesecake Factory keeps the population under control via heart attacks and obesity related deaths that are helping reduce the American life expectancy age (along with overdose). Start your meal at Cheesecake Factory with the Avocado Eggrolls for 2: 600 calories per person Then for your main, enjoy the Bistro Shrimp Pasta, just 2,190 calories Finally end your night with the Orean Dream Extreme Cheesecake, just 1,490 calories Let's not forget you can't enjoy a classy night out at Cheesecake Factory without some wine, so tack on about 180 calories for your drink. But the end of your meal, you've enjoyed 4,460 calories in just 1.5 hours! If you wanted that many calories you'd have to work harder at other places, such as eating 8 Big Mac's to get the same amount of calories as a dinner at Cheesecake Factory. I will give credit to Cheesecake Factory for making it very easy to see how many calories you are consuming. Very often when eating out, you aren't as aware of the ingredients going into your meal, how much oil it was cooked in, etc... the fact that so many people don't know how to cook anymore and are reliant on eating out makes it hard to control calorie consumption and maintain a healthy eating lifestyle.
  13. CLT2014

    1000 Room Convention Center Hotel

    Yes, you are correct my apologies. Here are the top 40 Mega Convention Centers in the USA (350,000 sq. feet of prime exhibit space required to qualify): http://www.tradeshowexecutive.com/pdf/convcenters/TSX-ConvCenters_2015-08.pdf Outside of the Top 40, Charlotte ranks #6 among the Tier III convention centers (centers with 125,000 - 350,000 sq. feet of prime exhibit space): http://www.tradeshowexecutive.com/pdf/convcenters/TSX-ConvCenters_2015-02.pdf Based off the lists, I think Austin looks like it is the only Tier III convention center with a 1,000+ room convention center hotel. The Gaylord Nashville Convention Center is a 1,000+ room hotel with a Tier III space as well (though downtown Nashville's Convention Center is a Tier II). Portland, Pittsburgh, Greenville, SC, Baltimore, Seattle, Fort Worth, etc... that our in the same Tier don't have 1,000+ room hotels.
  14. CLT2014

    1000 Room Convention Center Hotel

    I think the CRVA is trying to deflect and be like "oh the reason we can't book bigger events is we don't have a 1,000 room hotel" when the real reason is you can barely find Charlotte in most Trade Show magazines because we are so far down the list in size... which relegates us to regional / local conventions or smaller events that can book an event cheaper in Charlotte than Orlando, Las Vegas, Anaheim, Chicago, Atlanta, Indianapolis, etc... i mean really... pick a major US city and they almost all have a bigger convention center than us. Unless the hotel comes with a large amount of exhibit space connected easily to the current small exhibit hall, I don't see it really producing many more events than we book today and certainly not many events that would demand a 1,000 room hotel. Those events are headed to the convention powerhouse cities.
  15. CLT2014

    1000 Room Convention Center Hotel

    The expansion doesn't improve the size of our small prime exhibit space though which brings in the mega conventions. While any space is an improvement, the expansion further supports Charlotte's place in the convention world for niche conventions and smaller groups. The expansion is a drop in the bucket compared to the expansions going on in other cities across the country and ALMOST helps us crack the top 50 in size. "The $110 million expansion would add 26,000 square feet of smaller meeting rooms and 15,000 square feet to host pre-event receptions." https://www.bizjournals.com/charlotte/news/2017/09/11/clt-convention-center-expansion-to-begin-in-2019.html We currently have 280,000 sq. feet of space and will be up to 321,000 with these smaller rooms added. Let's look at other cities that invested in a 1,000 room hotel: Marriott Marquis Houston: Supporting a 1.9 MILLION square foot convention center (6 times the size of Charlotte's) Sheraton Phoenix: Supporting a 900,000 square foot convention center (2.8 times the size of Charlotte's) Omni Dallas: Supporting 1 MILLION square feet of prime exhibition space and 2 million total space (3 - 6 times the size of Charlotte's) JW Marriott / Ritz Los Angeles: 720,000 square foot convention center (2.25 times the size of Charlotte's) Grand Hyatt San Antonio: 1.6 MILLION square foot convention center (5 times the size of Charlotte's) JW Marriott Indianapolis: 600,000 square foot convention center + Lucas Oil Stadium (2 times the size of Charlotte's) JW Marriott Austin: 881,000 square foot convention center (2.8 times the size of Charlotte's) etc..... I can't think of any US city with a 1,000+ room convention center hotel attached to a convention center that doesn't even rank in the top 50 in the country for size (even after our planned expansion). So we will have a massive hotel attached to a convention center that can barely accommodate national fraternity/ sorority meetings and regional high school volleyball tournaments... let alone conventions with massive booths for the defense industry, manufacturing, auto industry, aerospace, etc... that bring in the big bucks.