[kcantor]

Yes, I agree there are perception issues, not so much negative, but more Edmonton just not being on the radar of those elsewhere who consider new projects, in part because we are not as much of a tourist destination.

You can't go for almost four decades with only one new major hotel downtown while the city doubles in size and expect somehow that will work just fine.

It’s purely a function of room rates and revenue per room (which can be less than half the room rates) and noting that revenue per room is gross revenue and has to cover all expenses before there’s any margin. It’s not that we’re “not on the radar”, it’s that the numbers don’t pencil.

 

[Greenspace]

City's Problem Properties Initiative is looking at this property now. There will be an update to share next week.

 

[David A]

I don't feel it is just room rates, which first of all assumes a competence of large organizations that I am not sure exists.

Secondly, much our hotel room stock downtown is quite old and some I would say are getting a bit dated, so there may be a bias there in the rates that reflects the supply more than the market.

 

[edm13]

What potential is there for the Westin or sandman to be converted to residential and then have those chains move into a newly built hotel building?