Week10 - Best Canadian Hotels and Resorts Your family has...

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Best Canadian Hotels and Resorts Your family has been in the hotel business for more than a century. Your ancestors followed the Canadian Pacific Railway west in 1885 to start one of Calgary’s first hotels. From that one hotel the family business grew gradually, or as it is said by family members, “two steps forward and one step back”. The first hotel was relocated and expanded three times over its first 30 years. Then growth was pursued by developing hotels during the next 15 years in 7 other prairie cities. Instead of expanding in the 1930s, two of the hotels were closed and the property sold. In 1948 three hotels were bought in British Columbia. A hotel was built in Toronto in 1952, but it was a cash drain and not profitable until 1965. Then, with a change in management 13 hotels were purchased or built between 1967 and 1980. The recession of the early 1980s put a brake on growth. Fortunately, the family business had not been heavily in debt. Only five of the hotels were sold. There were 18 hotels in family chain in 1985 when your uncle became the chief executive officer. In 1988 he acquired a chain of Ontario and Quebec hotels with about three-quarters of the rooms as your family’s hotel business had at the time. This acquisition added 13 hotels and also got your family into the resort business. Previously the hotels had catered to business travellers, but with the
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Week10 - Best Canadian Hotels and Resorts Your family has...

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