Downtown Victoria hotel on the market for second time in 10 years
The Dalton Hotel & Suites at Blanshard and Yates streets is on the market once again. Photo © VibrantVictoria.ca.
Downtown Victoria’s Dalton Hotel & Suites, located at the corner of Blanshard and Yates streets, is up for grabs for the second time in less than a decade.
Originally known as The Dominion Grand Hotel, the historic 88-room, five-storey building completed in 1876 may be the City’s oldest hotel, although not quite its grandest. The aging Dominion Grand sold earlier in the decade and underwent a rebranding effort that brought several improvements to the property, including some $1.5-million in renovations. Those improvements, however, were not enough to make the operation a money maker.
The present owner estimates that $1-million is required to renovate the currently inoperative second floor. The sales listing document released by commercial real-estate firm Avison Young of Vancouver states that due to the inoperative floor, the “hotel is currently operating inefficiently, and the current economic climate has further reduced the revenue potential of the hotel operation.”
With annual revenues of $1-million, the property is operating at “near breakeven levels,” according to Avison Young, and should renovation of the second floor be completed, the revenue could increase “significantly.” The sales document also hints at the possibility of converting the property from transient use to residential, a trend that has proven popular among buyers and real-estate developers in Victoria.
The asking price for the hotel is $7.9-million. In addition to the property, buyers are eligible to purchase a liquor store on the hotel’s ground floor and an adjacent restaurant, dubbed The Office, for an additional $3.35-million.
For more information on Victoria’s tourism industry, including news related to hotel operations throughout the region, refer to the Tourism discussion thread in the VibrantVictoria.ca forum. To view the official Dalton Hotel & Suites website, click here, and to access the sales listing document, click here.
Copyright © 2010 by VibrantVictoria.ca. All rights reserved.
Responses to this Headline or Article
The five most recent replies to VibrantVictoria.ca's discussion forum's Tourism thread, the most relevant thread to the above headline or article:
aastra
Apr 20, 2012 at 9:07 amIt's really confounding, the sheer number of tourists who complain about the distances in Victoria. In most instances they're complaining about a walk of a few minutes at most. Sometimes they're complaining about the arduous trek to the very next block.
Hotel Mike
Apr 20, 2012 at 11:15 amThat's where the new bridges connecting Fisherman's Wharf to the harbour walkway will come in. It will shorten the walk slightly, and people won't have to walk up to street level twice before getting to FW. The bridges figure into the GVHA plans for Fisherman's Wharf, though I believe it will be a City-driven project.
G-Man
Apr 20, 2012 at 11:26 am^ But that is actually a longer walk than walking direct through James Bay.
aastra
May 03, 2012 at 7:06 pmFrom two recent reviews of the Marriott:
Quote: It is quiet! Even with the window (which faces the Chateau Victoria Hotel) opened, we could hear very little noise.
and
Quote: ...the noise is crazy, the first night was awful because the balcony door was open, not sure how, but I discovered that it was open. However, even if the balcony is not open, you still can hear all the trucks and the noise from outside.
****
Another one for the great air conditioning debate:
Parkside:
Quote: It was very warm in our room (25 degrees at 8pm) and there is NO air conditioning! The temps outside were about 18 degrees so I can't imagine how hot it would get in the summer. We couldn't keep the windows open at night because it was too noisy outside.
VicHockeyFan
May 17, 2012 at 5:15 pm
May 14:
Quote:
Kathy Arnold and Paul Wade find many reminders of home on Canada's west coast, from the rain to red buses on the streets of Victoria.
