I understand that they’ve spent all the money raised from donations for the renovation, and if they are going to continue operations, will probably have to borrow funds. Doesn’t sound very financially astute to me.
Their plan to return to profitability is based upon becoming a conference and meeting center—in competition with Stanford University, The Westin Hotel, The Sheraton Hotel, The Four Seasons Hotel, and the Stanford Park Hotel, plus many others. They have no current audio-visual capability, resources or knowledge, and their physical plant is not conducive to traditional business meetings. Garden Clubs, the Red Hats, and other such organizations, however, will feel right at home – but they won’t generate the kinds of revenue necessary to operate the complex. And neither will art galleries and artists studios. Menlo Park is not Carmel or Union Street in San Francisco.
I’m afraid that the Woodside-Atherton group needs a harsh dose of reality before it’s too late, and more good money is spent in support of bad decisions.
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