The Biltmore Hotel Management Wants A Free Lunch

The comportment of the Biltmore Hotel is similar to that of Wall Street–their lemma is “Privatize the Profits and Socialize the Losses”.

The Biltmore management has suddenly discovered that they are losing money and they want the City of Coral Gables (meaning the taxpayers) to pick up their loses.  We cannot recall that they came forward to volunteer extra payments to the city when times were good and occupation rates were strong. Rather they have suddenly discovered millions of dollar in costs that they want reimbursed.

Sadly, the taxpayers of Coral Gables are not in a position to subsidize a Biltmore, an unprofitable company that benefits just a very people.

I say get another operator or return the Hotel to the US Government before taxpayers have to pay more property taxes or suffer reductions in their own services.

The Biltmore is an anachronism, it is the model of an earlier time when money was flowing.  It is time for the City Commissioners to side with their citizens in this matter; the US is entering a long period of austerity and the Coral Gables citizens should not have  to bailout the Biltmore.

About Stephen E. McGaughey
International consultant in economic development programs and projects

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: