Quote:
Originally Posted by Stewie
Hotel for Stonegate
Local group has high hopes for $23-million development
By Murray LyonsSP Business Editor
..............
“This one will be sitting near a new housing development (Stonebridge), near a golf course (The Willows), near Prairieland and near all the car dealerships. So if you were looking for location, I guess it would hit all the criteria.”
Early says Ng, an engineer, is leading the construction management on a three or four-storey hotel with 118 rooms, a design that has been approved by the Starwood Group, which licenses the Four Points by Sheraton brand.
|
I didn't think a hotel would be part of the Stonegate commercial area. Although as investors state, it makes sense with everything that's going on in the south.
Also on the topic of hotel industry dynamics, the following article mentions another possibility (albeit 6-12 years from now).
Remai checks in to city hotel market
Company purchases Best Western location on Idylwyld Drive
Murray Lyons, The StarPhoenix
Published: Tuesday, January 15, 2008
After years of having an ownership position in Alberta's hotel industry, Ellen Remai finally has a hospitality property in Saskatoon.
The Remai Ventures division of P.R. Developments will take possession of the Best Western Inn and Suites on Idylwyld Drive on Feb. 1.
The deal comes less than four years after the property with its 91 rooms, restaurant and retail space was purchased by the investment arm of the Prince Albert Grand Council.
Judy Harwood says Best Western Inn and Suites will get a complete makeover
Judy Harwood, director of operations for the West Harvest Inn brand owned by Remai, says the Prince Albert Development Corp. did do some upgrades to the rooms, but Remai wants the entire hotel to get a facelift.
"We know what we have to do when we take it over," Harwood said Monday. "We want to redo the exterior of the building because right now -- let's be honest -- it does look like a mall.
"So we want to change the curb appeal. We're going to dress up the front of it, we're going to do the lobby, the second floor and we're doing upgrades to the guest rooms."
The property will also be rebranded as a Best Western Harvest. Essentially, Remai's purchase includes a full city block with all the retail shops, such as Don's Photo, but not including the government liquor store on the south corner of the property.
Harwood, who has spent 30 years in hotel management in Saskatoon, mainly at the Travelodge, says she expects the renovation will allow the hotel to raise its room rates modestly to match the rates charged at other hotel properties in the Idylwyld-Circle Drive area.
She expects all the work to be done this year will justify a higher room rate.
"You have to understand Ellen Remai. She wants to have pride in what she owns," Harwood said. "Not that it's not a good property, but there are some changes she wants to make and she will certainly be prepared to spend the dollars to make this happen."
Having spent the past year working for Remai's hotel division based at an office near the Saskatoon airport, Harwood says it is great to have a property to manage in the same city as the head office. Remai's West Harvest brand has properties in Edmonton, Lloydminster and Regina.
With the Best Western purchase, Remai Ventures owns 11 hotels in all, with properties sporting various brand affiliations in Lloydminster, Spruce Grove, Leduc and two higher-end resort properties in the mountain resort community of Canmore.
It may not be the last hotel property that Remai may own in Saskatoon. Harwood points out that Remai was the successful bidder in buying the 52 acres of the Saskatoon Golf and Country Club that will be orphaned from the rest of the golf course when the road connector to the south bridge goes ahead.
That property, located close to Prairieland Park, might make an ideal site for a hotel some time in the not too distant future because it will be right where the new south bridge road connects with Circle Drive, Harwood pointed out.
Several years back, Remai was the sole interested party in developing the River Landing project as a spa hotel, but backed out of that project because her company's analysis found that a hotel-spa by itself would not be economically feasible.
River Landing is now the subject of a multi-purpose proposal by Calgary-based Lake Placid Developments that includes hotel, condo tower and office-retail space.
[email protected]
Source
Prev
So I don't think anyone will mind if you ask non-development type questions.
Linear Mode
