[CalgaryTiger]

I think the demand for these kind of hotels is already there, they just needed to connect the dots.

Stay tuned, there may be yet another high end hotel coming to a downtown near you

I assume there is at least one more near the arena/convention centre.

 

[Citywatcher185]

I think the demand for these kind of hotels is already there, they just needed to connect the dots.

Stay tuned, there may be yet another high end hotel coming to a downtown near you

I heard (from someone who recently worked at Truman) that they have over stacked their pipeline by building at double their expected demand since 2022 & now they have so much inventory that isn't moving and they are drowning in debt. Apparently they are trying to sell most of their portfolio & pipeline to American private equity or $1.1B - my guess is that is why they announced the whole 'rent-to-own' initiative, trying to offload so they don't default.

All these hotels feel like a hail mary cash grab to keep things afloat, I wonder how many of them will end up being completed.

Also heard they are having a hell of a time with their rentals because now people can put their leases through ChatGPT and easily learn how horrible you can get screwed over signing with them

 

[O-tac]

My fears of another Torode crash aren’t diminishing.

 

[CalgaryTiger]

The fanfare from big announcements is a hell of a drug.

 

[Citywatcher185]

The fanfare from big announcements is a hell of a drug.

& apparently Truman is really chasing that dragon right now

 

[DougB]

I'm curious what Truman did to land these hoteliers as partners, it is an interesting pivot from a developer that will also build you a single-family home. Maybe it is that Gucci lobby, we all know once you go Gucci you never go back.

Truman must be pursuing an innovative financing model. Hotel chains rarely own the actual properties

 

[DougB]

Poor Broadway development. Year ago they had the tallest building south of the tracks proposed. Now they are #4. Love this one!

The Beltline will soon have one of Canada's tallest skylines

 

[Citywatcher185]

Truman must be pursuing an innovative financing model. Hotel chains rarely own the actual properties

Hotel chains like Fairmont & Marriott rarely do, but the developers behind the projects are usually the ones that do

 

[CalgaryTiger]

Its news to me about the impending crash at Truman. Thinking about who has been let go over the last year, I would highly doubt your source. For sure there are challenges with the market currently but it is still currently manageable. There are a lot of different revenue streams at Truman and some of them have not slowed down at all. The employee count has increased significantly in the last 6 months which indicates growth. I could go into more depth about it but why bother. People have their minds made up.....so be it.

No one is cheering on Truman more than the people in this forum. I even think if they had a Basecamp style funding model for some projects people here might buy in.

 

[Citywatcher185]

Its news to me about the impending crash at Truman. Thinking about who has been let go over the last year, I would highly doubt your source. For sure there are challenges with the market currently but it is still currently manageable. There are a lot of different revenue streams at Truman and some of them have not slowed down at all. The employee count has increased significantly in the last 6 months which indicates growth. I could go into more depth about it but why bother. People have their minds made up.....so be it.

I am sure you are correct, we are still one of the strongest markets in Canada. They are a major player in the city & I would really hate to see them crash because it would take huge toll on our city and probably scare away other ambitious developers from taking on major projects for a while.

 

[Citywatcher185]

No one is cheering on Truman more than the people in this forum. I even think if they had a Basecamp style funding model for some projects people here might buy in.

I agree, I think if they opened up investments into some projects there would be buy in from people both on here and not.

 

[CalgaryTiger]

What's interesting to me about Truman is where they're choosing to build. Nothing in the East Village or East Victoria Park. Granted the developers that own those parcels might be happy to sit on them.

 

[Citywatcher185]

What's interesting to me about Truman is where they're choosing to build. Nothing in the East Village or East Victoria Park. Granted the developers than own those parcels might be happy to sit on them.

I saw a proposal for another luxury hotel being planned for that side of the tracks, near where the green line is going in. No exact address but it apparently is going to be Canada's first Waldorf Astoria & Canada's first fully barrier free hotel. I joined to see if there was anymore information on it but there is nothing on here yet so I was thinking of making a thread about it but I am new here and not sure how it all works & I don't have permissions yet.

If anyone interested in creating a thread send me a message and I can share what info I have on it so I am not getting off topic in this thread.

 

[CalgaryTiger]

I saw a proposal for another luxury hotel being planned for that side of the tracks, near where the green line is going in. No exact address but it apparently is going to be Canada's first Waldorf Astoria & Canada's first fully barrier free hotel. I joined to see if there was anymore information on it but there is nothing on here yet so I was thinking of making a thread about it but I am new here and not sure how it all works & I don't have permissions yet.

If anyone interested in creating a thread send me a message and I can share what info I have on it so I am not getting off topic in this thread.

@Surrealplaces teased this somewhere on here in the last 24 hours.

 

[O-tac]

Based on the height of some of their other projects, would a new Waldorf Astoria potentially be a supertall?