The Year 2000 was another benchmark year for the Canadian
lodging and hospitality industry. Over the past 12 months
we assisted our clients on over 100 accommodation projects
across the Country representing in excess of $1.0 billion
in hotel assets. The scope of these assignments has
included asset evaluation and strategy, new development,
acquisitions, refinancing appraisal and property tax appeals
on behalf of developers, owners, operators, purchasers and
lenders. These projects were completed in all regions
of Canada, from Nunavut to Niagara Falls, from Whistler to
Woodstock, New Brunswick.
Projects were completed on behalf of major financial institutions
such as Royal Bank of Canada, Business Development Bank of
Canada, Bank of Montreal, Hong Kong Shanghai Bank of Canada,
Canadian Imperial Bank of Commerce, GMAC, GE Capital and
Citibank Canada.
Our hotel clients included Westmont Hospitality, Royal Host
REIT, Delta Hotels and Resorts, the Northampton Group, Coast
Hotels and Resorts, Northland Properties Ltd. (Sandman Hotels),
True North Properties (Greenwood Inns), the Four Seasons,
Crowne Plaza and King Edward hotels in Toronto, the Wyndham
Montreal and the Four Points Hull, among others.
We also completed numerous assignments for accommodation
demand generators including an Economic Impact Analysis of
Casino Rama near Orillia, Ontario; a Strategic Marketing
Plan for Muskoka Tourism; Advisory Services for the development
of accommodation at the Woodbine Race Track on behalf of
the Ontario Jockey Club; an Expansion Analysis for the National
Trade Centre in Toronto; a Convention Centre Feasibility
Study for the City of Niagara Falls; a Development Masterplan
for the Searchmont Ski Resort in Sault Ste. Marie, Ontario
and a Market and Economic Feasibility analysis for a Desert
Interpretive Centre in the British Columbia Interior.
Pannell Kerr Forster has also provided advisory services
to clients in the food and beverage, resort, spa and clubs
sectors over the past year. These projects included
market studies, appraisals and strategic planning assistance. Food
and beverage clients included full service independent restaurants,
neighbourhood pubs and institutional operations.
Pannell Kerr Forster has also continued to maintain our
strong level of industry involvement, with our professional
staff actively participating in industry conferences nationally
and provincially. These have included The Hotel Association
of Canada Annual Conference, The Canadian Hotel Investment
Conference, The Canadian Gaming Summit, The Asian American
Hotel Owners Association Canadian Session, Resorts Ontario
Conference, the British Columbia and Yukon Hotel Association
Annual Conference, the Alberta Hotel Association and Alberta
Motel Association Conferences, Attractions Ontario Conference,
Tourism Federation of Ontario Conference and the Tourism
and Travel Research Association Annual Conference as well
as many regional and municipal meetings and conferences.
In addition, our staff have written or provided input to
a number of key industry articles published in Hotelier magazine,
the Canadian Tourism Research Institute’s “Travel
Exclusive” publication, the Journal of Economic Developers
of Canada and the Hotel Association of Canada’s “Roomers” publication.
At Pannell Kerr Forster, we pride ourselves in providing
valuable, objective, third party advice to our clients. On
behalf of our Directors and staff we thank those clients
who took advantage of our services over the last year, as
well as those owners and operators who continue to participate
in our monthly and annual Trends programs. We wish you all
success in 2001, and please feel free to contact us if we
can be of assistance.
| David Larone, Director, Toronto |
Beth Walters, Director, Vancouver |
| Brian Stanford, Director, Toronto |
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| Fran Hohol, Principal, Toronto |
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