We are pleased to announce that MasterBUILT® Hotels has been selected as the Canadian Master Territorial Development partner for Wyndham Hotels and Resorts’ newest North American hotel brand: ECHOSM Suites Extended Stay. By bringing ECHO Suites to Canada, we are helping to fill a void in a market with soaring demand for hotels that offer stays ranging from 7 days to annually. The Perfect Complement to our Microtel Property. We’ve had a long and successful partnership with Wyndham as their Canadian licensee for Microtel Inn & Suites. ECHO Suites is a very similar product in many respects. B ..read more

There is a common misconception that if you’re outsourcing work you could be doing internally, you’re simply taking money out of your own pocket. The truth is, in any business, you need to play to your strengths. This is particularly relevant in the hotel industry, where expertise and efficiency are among your greatest assets. Many hotel brands offer hotel management as part of their turnkey solution. Outsourcing hotel management to your franchise partner has numerous built-in advantages that can not only make your job easier – but also make your property more profitable. Advantage #1: Experie ..read more

Investing in a long-term real estate asset like a hotel isn’t a decision one takes lightly. The cost of a mid-scale hotel is significant: ranging from $10-$20 million (Cdn). So, assume you’ve found a hotel brand and property that checks all of your boxes for location, quality, amenities, budget, franchise support… and quality of towels and linens! Now it’s time to get down to the nitty-gritty details that can make or break the deal. Your success depends on your ability to fully understand and assess the financial obligations and requirements from an investment and legal perspective. Over the p ..read more

Hotels have long been considered a stable, long-term investment. In 2022, the cost to develop a midscale hotel in Canada averages between $145K and $197K/sq. ft. This includes all land, construction, furnishing and soft costs. These figures vary by province and market, with the Vancouver/Lower Mainland area and Greater Toronto Area being the most expensive. How are hotel costs categorized? In their annual 2021 U.S. Hotel Development Cost Survey, global consulting firm HVS divides hotel costs into six categories. 1. Land Costs This is the cost to purchase the land. It does not include closing c ..read more

Whether living with mobility, vision or hearing challenges, or other impairment, Canadians with disabilities are committed to experiencing life to its fullest. This includes traveling to this great country as tourists. According to Statistics Canada, one in five Canadians (22% of the population) live with a disability. This includes a growing segment of the population that is experiencing mobility issues as they age, with 20.6% of Canadians over 65 reporting mobility issues. Yet in a country that has established laws in place to prevent discrimination ag ..read more

When you think of a smaller hotel, what comes to mind? A motel with a dated outdoor pool? A trendy boutique? A cut-and-dry room with a bed and tv. A lobby with a self-serve cereal breakfast? Mid-scale hotels (generally under 140 rooms) are often referred to as limited-service hotels. But, nowadays, service-focused hotel chains are finding innovative ways to offer affordable, high-quality accommodation that rivals upper-midscale and even some full-service properties. Travellers have changed – so have their expectations As the world diversifies and travel motivations change, today’s hotel patron ..read more

In the right location, hotels can be a jackpot for commercial property developers. While they can have risks, the rewards can be lucrative. With the proper research, a hotel can become the epicenter of a bustling economic hive, providing stability and long-term financial return for both tenants and developers. The secret is to thoroughly vet the project and potential hotel partners with a few tried and true steps. 1. Conduct a market assessment An in-depth market assessment should be the first step when considering a hotel for a development property for a number of reasons. First off, it will ..read more

What factors should guide your decision when choosing a hotel brand to partner with? Solid fundamentals. A reputable brand. Strong performance (e.g. average daily rates, average room rates, revenue per available room). Construction efficiency. And all of the usual factors that guide success in the hotel sector. Choosing a hotel isn’t just about the name on the side of the building. So much hinges on the hotel management partner behind that name. For First Nations investing in a hotel, the management partner’s experience and reputation working with Indigenous investors, and ability to provide s ..read more

The long-term success of a commercial development comes down to the developer’s ability to attract stable, long-term tenants. Finding the right combination of businesses can create a lively destination that attracts both locals and visitors alike. In the right market and location, a hotel is a tenant with proven ‘staying power’, due to the sound investment fundamentals. Putting a hotel in your development can offer several benefits. Hotels support other businesses in your development A hotel often has a symbiotic relationship with other businesses in your development. Surrounding businesses be ..read more

Original Article in Hotelier CALGARY — As it celebrates its 10-year anniversary, Alberta-based hotel developer MasterBUILT Hotels has received the Canada’s 50 Best-Managed Companies award. The award recognizes privately owned and managed companies with revenues of more than $25 million for innovative, best-in-class business practices. MasterBUILT has won the award for the past seven years, becoming a Platinum member with its win this year. “It’s an honour to be recognized again as one of Canada’s Best-Managed Companies,” says David Donaldson, president, MasterBUILT Hotels. “This award is a tes ..read more