What do you think of this project?

  • Total voters
    32
IanO said:
^the numbers. Our RevPar and overall demand/occupancy simply does not pencil out new investment in this asset class.

In speaking with some hotel managers, renos are even hard to justify, let alone new builds.

Basically, opportunity cost when you look at Cap rates and what else you could do with said money.
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Why you gotta be all realistic. We demand a beautiful new hotel to sit half empty 200 days of the year.
 
MattPT said:
Why you gotta be all realistic. We demand a beautiful new hotel to sit half empty 200 days of the year.
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I feel part of the reason the revenue is lower is because many of the bigger hotels here are getting quite old now and are not being renovated.

If something nice and newer was built the demand for it could be surprising, particularly if having more rooms could also lead to Edmonton attracting more and larger events.
 
Maybe stop being one of the most embarrassing jurisdictions in the continent and our tourism prospects will improve? 🤷🏽‍♀️

BTW maybe someone should look into why Katz is getting another hand out for a money making machine at a ridiculously inflated cost compared to any other similar venue being built. This is going to be one of the most expensive (public dollars) boring neighbourhoods ever built.
 
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IanO said:
We really, really need a new 3-4 star in the core as our current stock is underwhelming and in dire need of upgrades, but they are stuck in the classic chicken/egg conundrum.

A new spot would have folks migrate to quality and force others hand.
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I've always thought that converting part of a largely empty office building on 124 Street would do very well.
 
MacLac said:
Nor ar

Nor are they going to ANY OTHER city in North America to go shopping downtown…..
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But people are traveling to downtowns of cities for various reasons and while there visitors are shopping, except of course not here where they can't because our downtown retail has been so totally gutted.
 
MacLac said:
Nor ar

Nor are they going to ANY OTHER city in North America to go shopping downtown…..
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New York, Montreal, Toronto, Vancouver and Chicago, to say the least, might have something to say about this, be it street facing retail or malls, all of these cities have a substantial part of their upscale retail in their downtowns and people do go there to shop.
 
ChazYEG said:
New York, Montreal, Toronto, Vancouver and Chicago, to say the least, might have something to say about this, be it street facing retail or malls, all of these cities have a substantial part of their upscale retail in their downtowns and people do go there to shop.
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Exactly, I recently went to the first three cities you mentioned, not specifically to shop but there were good opportunities to do so when I was downtown there, so I did take advantage of some of them.

Ironically as someone living and working more centrally and who likes to be able to walk to nearby stores, I actually shopped more there than in our own city's far flung malls and power centers.
 
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