Quote:
Originally Posted by Innsertnamehere
The hotel industry as a whole is doing great across the country. But I guess my concern is that only one developer seems to be swooping in with all these massive hotel builds when nobody else is building that big. Doesn't mean it can't happen of course, but makes me at least a little skeptical..
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The hotel industry is up everywhere, but for overseas visitors it's up at a higher rate for Calgary than other cities, increasing 50% since before Covid in 2019. From 30,000 overseas visitors a month to 45,000. Many of those are the tourists who are looking for the downtown hotels, and thus why there is such a demand.
Will these Truman hotels get built? It's unlikely they will all get built, but there will be more downtown hotels coming either way. The one that's most likely to get built is the tallest of the two Stampede station towers. Word is, they have the funding in place.
As for the second tower, or this new Fairmont, it's anyone's guess, but I wouldn't be surprised to see the Fairmont get built, they've been looking at Calgary lately.
For what it's worth there's also a Waldorf Astoria proposal in the works from a different developer.