Downtown Hotel Deal
At Hand?
The local Daily is reporting that the most recent hotel deal seems 'very close' with just the final language being ironed out. I hope our city negotiators remember the 'devil is in the details' as they forge ahead with this new deal.
According to all reports this seems like the deal of the century for Nanaimo which will finally give us the missing piece to downtown Nanaimo becoming the thriving tourist and business hub we have been striving for these past years.
The original deal with our partners of the conference centre was to have included a hotel on this site to have been completed in conjunction with the conference centre. Ever since that whole project was bungled downtown Nanaimo has seen a conference centre struggling due to a lack of adjacent hotel space. Whether this new hotel will make Nanaimo more of a conference mecca remains to be seen.
What kind of a deal our City of Nanaimo negotiators and the NEDC negotiators have been able to hammer out for the benefit of Nanaimo will provide interesting study, I am sure.
One of the things this company brings to the table is built in customer base as they are in the tourism business in Asia and are reported in the Daily to move 41,000 people daily, and gross $175,000,000 annually. The company business model is not disclosed, but to move 41,000 people daily or 14,965,000 annually and only gross $175,000,000 shows a gross margin of less than $12.00 per client.
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