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Nobody Asked Me, But... No. 84


EB-5 Visa For Immigrant Investors; The Pistilli Lecture;
A NYC Hotel Bargain; "Built To Last"; Quote of the Month

 
By Stanley Turkel, CMHS, ISHC
January 17, 2012

1.  EB 5 Visa for Immigrant Investors

Back in the mid-1970’s, Patels from Africa and Asia began to emigrate to the United States where any immigrant willing to invest $40,000 in a business could apply for permanent residence, the first step to citizenship.  There were limited opportunities for such investments. 
At the time, distressed roadside motels could be acquired outright for $40,000 because of the oil embargo and the resultant nationwide shortage of gasoline.
 
Since 1990, the EB-5 Visa for Immigrant Investors has been available for foreign nationals to obtain a green card when they invest $1 million (or at least $500,000 in targeted employment areas) which create or preserve at least 10 jobs for U.S. workers.
                                                                       
As the JMBM Global Hospitality Group wrote in their Hotel Law blog (10/31/11):  “Chinese investment in hotels, restaurants and other commercial real estate is becoming an important potential capital source for development, acquisition and renovation.”
 
EB-5 investors can come from anywhere in the world outside the United States and can include legal immigrants in the U.S. under a temporary visa.  However, more than 70% of all EB-5 investors come from mainland China.
 
This program can be enormously beneficial to investors since there is no limit on the size of the EB-5 investment as long as deal-aggregation and documentation are submitted and as long as at least 10 jobs are created for every EB-5 individual investor.
 
If you are interested in this financing possibility, I suggest that you contact the Chinese Investment Group in JMBM’s Global Hospitality Group (Jim Butler at jbutler@jmbm.com or 1-301-201-3526).
 
2.  The Pistilli Lecture

The Hotel and Lodging Association of Greater Kansas City has a distinguished lecture series that is the highlight of their annual Mid-America Hospitality Forum.  It is named in memory of Kansas City’s legendary hotelier, Mr. Phil Pistilli, former President of the Raphael Hotel Group who passed away on March 29, 2003 at the age of 76.
 
Previous Pistilli Guest Lecturers:
 
1999
Anthony G. Marshall, JD, CHA, CHE
American Hotel & Motel Association
 
2000
William P. Fisher, Ph.D.
American Hotel & Motel Association
 
2001
Valerie C. Ferguson
Loews Philadelphia Hotel
 
2002
Mike Hourigan, CSP
Hourigan & Associates
 
2003
Doug Price
The Miles/LeHane Group, Inc.
 
2004
Peter Yesawich
Yesawich, Pepperdine, Brown & Russell
 
2005
Richard D. Adie
Statler Hotel, Cornell University
 
2006
Stephen Barth, JD, CHE, Attorney
Professor, Conrad Hilton College of Hotel & Restaurant Management
 
2007
Deborah L. Stafford, Supv. Special Agent
Joint Terrorism Task Force, FBI
 
2008
Joseph A. McInerney, CHA
President, American Hotel & Lodging Assn.
 
2009
Anthony Pollard
President, Hotel Association of Canada
 
2010
David L. Hunke
President/Publisher, USA Today
 
2011
Jack P. DeBoer
Chairman, Consolidated Holdings
 
On January 11, 2012, I delivered the Pistilli Lecture on the subject “Great American Hoteliers: Pioneers of the Hotel Industry”.
 
3.  A NYC Hotel Bargain

Here is a new boutique hotel outside of midtown Manhattan that offers great location, outstanding facilities, attractive amenities and low rates.  It is located in Queens where Governor Andrew Cuomo has just proposed to build the nation’s largest convention center at the Aqueduct Racetrack.  The following Check In/Check Out article (12/25/11) in the New York Times describes the Z New York Hotel:
 
Z New York Hotel
Long Island City, N.Y.
 
UPSHOT
     A Manhattan-style boutique, across the East River with rates from $189.
 
BASICS
     The Z New York Hotel opened last July as a boutique property that aims to offer affordability and style in an underserved location Long Island City, Queens.  The 100-room hotel has outdoor walkways (something like a motel) and every floor has a lounge area with eclectic, mismatched furniture.
 
LOCATION
     In the industrial heart of Long Island City, a few blocks from the East River and the Queensboro Bridge, the sleek Z infuses some life into a neighborhood ripe for development. Manhattan is a 10-minute car ride away (without traffic) or just one stop on the No. 7 train.
 
THE ROOM
     Our chic deluxe king room (a smaller superior room is the only other option) felt larger than its actual size thanks to floor-to-ceiling windows that provided stunning views of the Manhattan skyline.  Those views are a feature of every room, each of which celebrates the city with a large wall stencil of a taxi cab, Billie Holiday or the Rockettes.  There were contemporary décor touches in our Billie Holiday room; Mason jars were used as hanging light fixtures over the bed, and a sleek, low red couch made a comfortable sitting area.  The well-designed space also had a desk and a 32-inch LCD television.  The bed had 300-thread count sheets, and robes and slippers were provided.  Free Wi-Fi is available, and guests can make free unlimited local and international calls.
 
THE BATHROOM
     The small space had a bathtub with a rain-forest shower, a toilet and heated tiled floors.  The sink is part of the main room and had a blow dryer.  My husband and I had enough area to spread out our toiletries but enjoyed using the ones the hotel provided from the upscale British brand Gilchrist & Soames.
 
AMENITIES
     From 7 a.m. to 11 p.m. a Cadillac emblazoned with the Z Hotel logo along the side provides guests free hourly transportation to and from Manhattan. The pick-up and drop-off points are set, but special requests are accommodated depending on availability.  We, for example, were picked up at our Upper East Side apartment.  Room service and a full restaurant are set to be introduced sometime next year but for now the Z Restaurant Lounge has a free continental breakfast with choices of bagels, juice, pastries and fruit; an extension of the lounge has a walk-up food counter offering eggs, sandwiches, French fries and the like.  There is also a rooftop bar with 360-degree views of Manhattan, Queens and the East River.
 
BOTTOM LINE
     Z is attractively priced and has enough perks to lure tourists to Long Island City.  During our visit, all the rooms were occupied, and judging by the crowd at breakfast and waiting for the limo service, many of the guests were hip Europeans.  The rooftop has a bar in warm weather, but for now the restaurant lounge doubles as a bar, enlivening the evening atmosphere.
     Z New York Hotel, 11-01 43rd Avenue, Long Island City, Queens (877) 256-5556; zhotelny.com
                                                     SHIVANI VORA
 
4.  Built To Last
 
My new book, “Built To Last: 100+ Year-Old Hotels in New York” has just been published.  The thirty-two featured hotels have defied the passage of time for a variety of reasons, many explicable, some beyond explanation, all miraculous.  The book contains 32 chapters, 35 illustrations, 380 pages, foreword (by Bjorn Hanson, Ph.D.), preface, introduction, bibliography and index.
 
My research into the histories of these hotels turned up fascinating stories, great architects, entrepreneurial developers, unpredictable guests, famous movie stars, writers, musicians, politicians and even the story of an all-women’s hotel built in 1903.
 
I am pleased to report that “Built To Last” was favorably reviewed in the New York Times.  You can order a copy by visiting www.centuryoldhotelsinnewyork.com and clicking on the “Buy The Book” link.
 
5.  Quote of the Month

"My pleasure" instead of the ubiquitous and thoughtless service-industry rejoinder “No problem”.


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Contact: 

Stanley Turkel, MHS, ISHC
917-628-8549
stanturkel@aol.com
www.stanleyturkel.com


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Also See: Nobody Asked me, But...No. 83; Congratulations To Lodging Hospitality Editor Ed Watkins; Did You Hear About 'Airbnb'?; A Sows Ears Becomes a Silk Purse; On The Verge; Quote of the Month; Give This Perfect Gift for The Holiday Season / Stanley Turkel / December 2011

Nobody Asked me, But...No. 81; AAHOA Strikes Back; Would You Believe Such a Study? Independent Franchisee Associations On The Rise; Quote of the Month / Stanley Turkel / October 2011

Nobody Asked me, But… No. 80; Impertinent Questions Still in Search of Pertinent Answers; Questions for 32,500 Franchised Hotel Owners; Quote of the Month / Stanley Turkel / September 2011

Nobody Asked me, But… No. 79; Relevant Brand Management?; Save the Belleview Biltmore Hotel; The Magical Americana of New York; Quote of the Month / Stanley Turkel / August 2011

Nobody Asked me, But… No. 78; AAHOA Chairman Hits a Home Run; Universal Franchisee Bill of Rights; HomeSpun; Quote of the Month / Stanley Turkel / July 2011

Nobody Asked me, But... No. 77: Public Relations Trumps Common Sense; Nobody Does It Better; Plaza Hotel’s Oak Room to Close; Pay Attention to State Franchise Laws; Quote of the Month / Stanley Turkel / June 2011

Nobody Asked me, But... No. 76: Empire State Building's 80th Anniversary and the Waldorf-Astoria; "Defying Time: 100+ Year-Old Hotels in New York"; Impertinent Question Seeking a Pertinent Answer; Wyndham Hotel Group Reports; Save the Belleview Biltmore Hotel; Quote of the Month / Stanley Turkel / May 2011

Nobody Asked me, But… No. 75: Blackstone Reportedly Prepping Hilton for Flotation; Things Are Seldom What They Seem, Skim Milk Masquerades As Cream; Quote of the Month; First Announcement / Stanley Turkel / April 2011

Nobody Asked me, But… No. 74: The Triumph of Public Relations; Helpful Hotels; Court Rules Holiday Inn Commits “Reprehensible Fraud”; Quote of the Month / March 2011

Nobody Asked Me, But… No. 73: Impertinent Question Still Seeking a Pertinent Answer; The Fountain of Old Age; Quote of the Month / Stanley Turkel / February 2011

Impertinent Question In Search of a Pertinent Answer; Does The Industry Really Need Another Brand?; Hilton’s Hands Get Slapped in Starwood Settlement; China- Based Developers Buy U.S. Hotels; Quote of the Month / Stanley Turkel / January 2011

Nobody Asked Me, But… No. 71 - Impertinent Questions Still Seeking Pertinent Answers; The Baseball Business…Where Next?; Quote of the Month / Stanley Turkel / December 2010

Nobody Asked Me, But… No. 70 -John Q. Hammons, Impertinent Question, Quote of the Month / Stanley Turkel / November 2010

Nobody Asked Me, But… No. 69 - Large Banks Creating Crisis For Hoteliers; Are Room Telephones Obsolete? / Stanley Turkel / October 2010

Impertinent Questions in Search of Pertinent Answers; BlueMauMau.org: The Best Franchise Website; Free Wi-Fi at Top of Amenity List / Stanley Turkel / September 2010

Nobody Asked Me, But… No. 67 : Stanley Turkel's Review of Budget/Economy Hotels Following a Three Week Pennsylvania Road Odyssey / Stanley Turkel / August 2010

Nobody Asked Me, But… No. 66 : Recognizing Three Hotel Industry Experts Whose Accomplishments Are Unique - Bjorn Hanson, Peter Greenberg and Richard Warnick / Stanley Turkel / July 2010

Nobody Asked Me, But… No. 65: A Well-Deserved Compliment for Steve Rushmore; Impertinent Questions in Search of Pertinent Answers / Stanley Turkel / June 2010

Nobody Asked Me, But… No. 64: Best Western Finally Makes a Move; Cuba, The Caribbean’s Hottest Destination / Stanley Turkel / May 2010

Nobody Asked Me, But - No. 63: Can Airlines Learn From Hotels?; Memo to Ian Schrager / Stanley Turkel / April 2010

Nobody Asked Me, But No. 62 / Do the Radisson Franchisees Agree with Carlson's billion-dollar Makeover Program? At Last: A Win-Win Victory for Tourism; Congratulations to the Harris Rosen Foundation / Stanley Turkel / March 2010
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