Quote:
Originally Posted by onanewday
We have always seemed to be behind on the hotel front. It still confounds me that we don't have a super lux brand hotel built as yet. No Ritz. No super fancy Fairmont. Vancouver has quite a number and we haven't managed one.
Also I thought the East Village or Eau Claire would be great candidates for such a hotel, but alas that is not what we are seeing.
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I agree. Calgary has some astronomical year-round hotel prices. Weekdays cost more than weekends, which is good for hotels. Most visitors are on business, which is good for hotels. Convention and event space is in high demand, which is good for hotels. On the demand side, all factors seem to be ripe.
Given that the American Hotel industry was one of the hardest hit in the 2009 downturn, I wonder if hotel chains have been too short of capital to take a risk in Calgary over the past few years.