The Vancouver Business Thread

[craneSpotter]

Aisenstat sells majority stake in The Keg to Fairfax Financial

BIV Nov 18, 2013

The Keg restaurants will have a new owner in the new year.

Toronto-based Fairfax Financial Holdings Ltd. (TSX:FFH) announced November 18 that it has signed an agreement with The Keg owner David Aisenstat to acquire a 51% stake in Vancouver-based Keg Restaurants Ltd., which operates more than 100 steakhouse restaurants in Canada and the U.S.

Hmm, expansion plans at the Keg? The Keg has annual sales of around $500 million.

[Klazu]

Didn't know that Keg exists also in the States. Can't remember seeing one down there.

[theKB]

Originally Posted by Klazu

Didn't know that Keg exists also in the States. Can't remember seeing one down there.

There is actually one near Alderwood Mall in Lynwood just outside of Seattle and now I see two others close to Seattle as well. IIRC that lynwood location has been there for quite a while.

[spm2013]

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[Pinion]

Wal-Mart gets a lot of shit, including from me, but I can't help notice the positive effects it had on Capilano Mall. The whole thing would be dead by now without it.

Although it's probably also the reason why nothing can survive on Marine drive.

[officedweller]

That could also be mall versus street (whether Park Royal or Capilano Mall)

[Klazu]

When has the Hyatt in Downtown been downgraded(?) to Hyatt Regency? Didn't it use to be a 5-star hotel?

I noticed that there is a new sign on top of the building that has gone up during the Christmas time.

[spm2013]

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[officedweller]

Yup - it's always been a Hyatt Regency (at least since the early 1980s).

[Klazu]

Originally Posted by officedweller

Yup - it's always been a Hyatt Regency (at least since the early 1980s).

You seem to be correct. I was just somehow assuming it was a 5-Star Hyatt, but apparently not.

Originally Posted by theKB

There is actually one Keg near Alderwood Mall in Lynwood just outside of Seattle and now I see two others close to Seattle as well. IIRC that lynwood location has been there for quite a while.

I have to believe it now since I saw one in Irving, Texas. Too bad it was closed at the time, so I couldn't try their stakes in there.

[officedweller]

Originally Posted by spm2013

I doubt anything has changed except for the branding/logos that they rolled out last year, ...

Here's the new "Hyatt Regency" logo:



http://www.regency.hyatt.com/en/hyattregency/aboutus.html

I wonder if the logo part will appear somewhere on the tower (we just have the words so far)?

[spm2013]

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[officedweller]

It would be nice to have another logo on the skyline.

[zahav]

No logo, they are only going with the wording for the two rooftop signs. There are lower level signs on the north and south that will have an illuminated logo, one is already installed on the side facing the skytrain

[Alpine]

About the upcoming LNG boom in BC.

From what I've been reading online, either there will be a huge surge of money and head offices flowing into Vancouver, or Calgary will retain most of the economic activity with only a marginal amount for Vancouver. I haven't really been following energy news so I can't say for sure which is more likely.

However, from the upswing in office building proposals, it sounds like good news.

On a side note, since most land in the downtown peninsula has been taken up by condos, perhaps offshore islands (like Hong Kong International Airport, which was built on a reclaimed island) will need to be used in the far off future?

My profuse apologies if this isn't the right place for my post.

[logan5]

I would imagine these multi billion dollar companies would have a close relationship with the provincial government, so i would say they would want offices in Vancouver.

Maybe the Broadway Corridor will see a wave of office construction.

[spm2013]

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[logan5]

Why would LNG companies from Maylasia and China, and maybe Korea, who are extracting natural gas in northeastern BC, then shipping out on the west coast of BC, set up head offices in Calgary? These companies have to deal with the BC provincial government in Victoria and Vancouver.

[Canadian Mind]

Originally Posted by logan5

Why would LNG companies from Maylasia and China, and maybe Korea, who are extracting natural gas in northeastern BC, then shipping out on the west coast of BC, set up head offices in Calgary? These companies have to deal with the BC provincial government in Victoria and Vancouver.

Because most companies work with other companies when it comes to pretty much every step of resource development. Many of these other companies are already based out of Calgary. In order to efficiently liaise with these other companies, it is good practice to be in the same area as they are.

[Alpine]

Thanks for shattering my dreams, fellas. The LNG economy was one of the few reasons I was considering staying in Vancouver past my undergrad. But if we're going to remain a destination city for the old and wealthy, I'll have to rethink my plans.

Since I'm getting borderline off topic, I'll stop here.

Edit: Now that I think about it, even though there's oil exploration in Louisiana, most of the offices aren't in NOLA or Baton Rouge, but in Houston. So Canadian Mind's statement makes sense to me.

Edit 2: The reputation of Vancouver being a resort city will remain regardless of how much energy riches flow into town. But a strengthened economic base would have been fantastic.