[News] W Calgary and JW Marriott Calgary Announced.

[InternationalVillager]

Originally Posted by Dentoman

Is this Truman the same as Truman Homes once was? If so, careful of the sinks

https://forum.calgarypuck.com/showth...man+homes+sink

Yes. It's the same Truman. They have the biggest dick size in Calgary real estate. The big dawgs.

[Freeway]

One of the things they wanted to address after the BMO Centre expansion, and the influx of big fancy conventions coming in for that expansion, was hotel inventory in that particular price point and in close proximity to the grounds.

[Badgers Nose]

That’s some seriously slick architecture there. Might be out of my price range, but that’s the area we want to down size to so I will def keep an eye on it.

[the-rasta-masta]

Originally Posted by Strange Brew

The Marriott Autograph hotels are usually very trendy and nice. That should be a nice addition along with those two behemoths.

So many photos of Calgary highlight the Saddledome. Really going to be sad to lose that feature from the skyline.

I took a look at the first picture and imagined it without the dome. The more the Calgary Tower gets swallowed up, and with the Saddledome gone, the skyline will soon be unrecognizable.

[Willi Plett]

Originally Posted by Icantwhisper

So it'll be the 7th tallest building downtown?? Time to get rid of it.

Time to move it to Heritage Park.

[Ashasx]

Originally Posted by Dentoman

Is this Truman the same as Truman Homes once was? If so, careful of the sinks

https://forum.calgarypuck.com/showth...man+homes+sink

You are going to find bad experience stories for literally every builder/developer in Calgary.

In my experience, Truman is one of the best in the city and probably one of the few capable of taking on a project like this and executing it well.

[Strange Brew]

Originally Posted by the-rasta-masta

I took a look at the first picture and imagined it without the dome. The more the Calgary Tower gets swallowed up, and with the Saddledome gone, the skyline will soon be unrecognizable.

I expect the default Calgary images will start coming from the other side of downtown with the Bow in full view.

[jayswin]

Originally Posted by Strange Brew

I expect the default Calgary images will start coming from the other side of downtown with the Bow in full view.

Yep. Unfortunately that's the absolute worst angle of the Bow tower. So stupid looking from the north.

[Manhattanboy]

In the winter will there be a way to walk from the new hotels to Scotia Place indoors? Some sort of Plus 15 connection?

[GullFoss]

Originally Posted by sureLoss

Well I guess I don't consider a boutique hotel as a major hotel announcement

And the crazy part is that of the three buildings, the boutique hotel will actually have the most hotel rooms!

[GullFoss]

Originally Posted by YyjFlames

Generally people don't understand how much tax revenue these types of projects generate and how the taxes benefit their lives considerably.

This one project has a $1.5b price tag, and in construction, about 15-25% of that goes to direct taxes (income taxes and the layers of corporate taxes mainly). It also generates a bunch of indirect spin off taxes during the construction process and afterwards, and establishes long term taxes from the increased land value and business revenue.

Projects like these, if planned well, provide considerable benefits to the broader population.

The problem is that it's tough to show exactly how this revenue benefits the broader population (health care is free, right!), but you can certainly see a rich guy wearing a fancy suit chewing on a $100 steak in the new restaurant and we can all imagine the fat cats making bank off a 69 storey building (despite the crazy risk it takes to build something like this).

A $1.5b project, on completion, also reduces your property taxes by 0.15% or so. If Calgary can do 100 of these projects...could save you 15% or more on your property tax! Switch to GEICO today!

[Shazam]

Originally Posted by Enoch Root

extremely high - hotel management has understood dynamic pricing since before there was a term 'dynamic pricing'

Usually on the last set of rooms for a given day. But if you're saying that it's $300 on Tuesdays in Feb vs $800 in July during Stampede, that's not price elasticity.

[sureLoss]

There are still plans to put two more hotels in the area. Taken from the CMLC website:



"Future Hotel Site 1" was announced to be a partnership with Matthews Southwest Hopitality (owners of the Omni hotel brand) in 2022 but appears this might have fallen apart. No updates since the announcment. No renders. doesn't appear to be listed on CMLC's website anymore.

[Bandwagon Surfer]

Originally Posted by sureLoss

There are still plans to put two more hotels in the area. Taken from the CMLC website:



"Future Hotel Site 1" was announced to be a partnership with Matthews Southwest Hopitality (owners of the Omni hotel brand) in 2022 but appears this might have fallen apart. No updates since the announcment. No renders. doesn't appear to be listed on CMLC's website anymore.

Thank you, seeing the area plan puts these all in context.

The way I understand this is that this development seems to be driven primarily by the convention center & stampede grounds, and is pretty far from the new arena site. But there will be other developments coming closer to the new arena too.

Hopefully Calgary can capitalize on the mess the US is causing for their conventions. I am seeing a lot of US based conventions struggling with international people no longer able to attend do to all their new free speech restrictions and government attacks on minorities and women. Seems like a good opportunity for us being close enough to be an easy pivot froma US location. And would be awesome to see that area of town become a better entertainment district.

[CroFlames]

Originally Posted by sureLoss

There are still plans to put two more hotels in the area. Taken from the CMLC website:



"Future Hotel Site 1" was announced to be a partnership with Matthews Southwest Hopitality (owners of the Omni hotel brand) in 2022 but appears this might have fallen apart. No updates since the announcment. No renders. doesn't appear to be listed on CMLC's website anymore.

Omni are really nice hotels so that's too bad. Had the chance to stay in a few for work.

Sounds like these three Mariott hotels are gonna be really nice too. It makes so much sense to have the hotels cluster around the convention center, rink and Stampede area. You cater to both business travelers and tourists at the same time.

[Strange Brew]

Originally Posted by Shazam

Usually on the last set of rooms for a given day. But if you're saying that it's $300 on Tuesdays in Feb vs $800 in July during Stampede, that's not price elasticity.

Yeah I think he’s confusing dynamic pricing vs price elasticity. There is definitely dynamic pricing for hotel rooms in Calgary. As someone who moved away but still comes back regularly, I know first hand.

I actually don’t know if these hotels will add as many rooms as one might think. Those towers are more apartments than hotel rooms.

[Enoch Root]

Originally Posted by Strange Brew

Yeah I think he’s confusing dynamic pricing vs price elasticity. There is definitely dynamic pricing for hotel rooms in Calgary. As someone who moved away but still comes back regularly, I know first hand.

I actually don’t know if these hotels will add as many rooms as one might think. Those towers are more apartments than hotel rooms.

I'm not confusing them, thanks.

The original question of price elasticity was maybe a bit misdirected in this instance though - with some hotels (in particular, 'destination' hotels) their existence creates the demand. And I think that is the more pertinent point here. The BMO Center and the new arena, combined with desirable hotels, will create demand.

However, to the other point, dynamic pricing does contribute to price elasticity. Or, more accurately, can. Seasonal changes in pricing definitely impact demand.