Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1888-10-02
NEW YoRk.s HOTEL 6
The Capital Invested In the carayansarie.
Of tie American MetropoIIs.


Of tiie American MetropoIIs.
The amount of money invested in
hotel property in New York Ia yari-
ously estimated, but according TO a
lair allowance the land and buildings
are worth $4,000, 900 - that is. an
averaged valuation of each piece of
property at $241 1880. OF course
this amount would be largely in excess
OF the value OF mora than half Of the
regular hotels within the city limits.
but it Is also away below the lust as
sessment Of nearly twenty OF the big
hotels now in business. The furniture
in the hotels is estimated as having a
value Of 81 900, 900, with an AVERAGE
value Of &32, 259. Several Of the large
houses have expended $3.50, 900 on
their interior decorations, and three
or four even more than this. All of
these estimates are placed exceedingly
low, yet they show that simply TO
build and furnish the good hotels it
required an outlay OF *I7 900, 600. This.
after all, is an exceedingly small in
vestment when compared with the
amount Of money required to acc m
modate the guests.
At the legal rate of interest this in
vestment should return $3.50, 600 a year.
I 1t does all this and much more. The
total income OF the number of hotels
mentioned is estimated by good au-
thorities as $l4, $50, 900 a year How
much Of this is profit is figured out in
this way; There are accommodations
for nearly 10000 person in the hotels
rated as respectable. Tn, q are at
least two-thirds that number . per-
sons who are counted upon az regular
patrons. 1t costs hotel keeper on
the average about s1.25 a day to feed
and attend to the needs of one guest.
This amount on an average patronage
OF 10000 would represent an outlay OF
S25, 600 day, or 50, OPS, 600 a year.
When this is added to the interest on
the original investment of S17 900, 600,
it brings the total yearly cost, count
ing t. employment of servants, which
represents an outlay of 81 1862 900 more
up to the respectable total OF 81 ,237, :
900. This deducted from the estimated
total receipts gives 1888, 900 as the
profits to be divided between sixty-twc
establishments. and would be an ex-
cellent chance for capitalists to go right
to work and pile up more capital with
the rapidly and persistency of the
everlasting SNOWFALL.
Such profits would easily explain the
reasons for the great number of big
new hotels in contemplation or already
under way. But, unfortunately, wher
the noses of the guests of big New
York hotel are counted, they dom
always mean weekly or monthly set
Element of the bill. The number o.
''hotel beats" despite all the precau
tions taken to detect them and to avoit
giving them credit, is matter which
f is exceedingly grave to the hotel pro
prietors. There are at least thou
sand persons who practically live upol
the hotel proprietors of this city. No
the same ones all the while. of course
but the loss represents the loss of thu
board of that number of individuals
This at once makes an inroad into tht
. DlG pEOlJ OF Sl-b5O,uDO at an average
of three dollars day. Then come th'
breakages in dishes and the invest
ment in new cutlery, which in prop
erly managed house amounts at tbs
average to 5000 a year. This draw
another $4,000 from the profit, ant
then come the thousand and one othe
items of expenditure-gas, coal, dam
age to furniture, and the like which
run up to the big total of 81, 026. GOO
year. and again pare the profit down
leaving it in the neighborhood of 81,
0S2 900 to be divided among the sixty
two hotels. giving each an averag
profit. subject TO still further drains
OF $17.453. When one considers tina
this profit has TO be divided in mos
cases among three or four partners
the little hotels are not coiners @
money, and the student OF finance a
applied to hotel keeping continues t
wonder why it is that big hotels ar
still going up in various parts OF tn
metropolis.-N T. Times.