WHAT BIG HOTELS EARN.
Many American millionaires have no other town homes than suites in these gigantic hotels. In them they can command the last thing in the gamut of luxurious living, minus, ,of course, the lavish displays of wealjth-; collected together in private mansions—plate, pictures) books, etc. it wotild not bu possible to run a luxurious ; ihotel on a profit unless on a very larg% scale. It must have near a_bbut 10UO * rooms to be on a sound basis. The experience is, the bigger the hotel the bigger the profit. One of the New York. mam.moth hotels earns well'ovej £200,000 a year, and plenty show a profit of £100,000 —net earnings after, paying rent, interest charges, and full allowance for wear and tear. A 1200-room hotel with guests and retiirfue will contain from 3000 to 4000 souls. Fifteen of the' biggest New York hotels mean a total of over 10,000 rooms—-capacity for 15,000 guests, meaning a population, including help, equivalent to a fairly large city. .
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Ashburton Guardian, Volume XXXIII, Issue 8831, 6 May 1914, Page 6
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166WHAT BIG HOTELS EARN. Ashburton Guardian, Volume XXXIII, Issue 8831, 6 May 1914, Page 6
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