T
thx1038
Guest
a friend just tried to book a room next weekend at 1 king. They are all booked! Wow!
|
|
|
S
Suicidal Gingerbread Man
Guest
Wow. I guess the sign worked 
Actually, if I were an investor I'd be worried if they can't book all hotel rooms during Pride weekend.
Actually, if I were an investor I'd be worried if they can't book all hotel rooms during Pride weekend.
C
civdis
Guest
I am an investor in 1 King who lurks on this forum and periodically weighs in. Although I have my unit leased for the time being (making a decent cashflow), I frequently communicate with Owner relations for updates on operations. I plan to put my unit back into the pool when this lease expires.
The last couple months have been excellent and owners are starting to see a decent return on their investment. I believe the discounted rates and promotions are starting to deliver and as business travellers discover this property, it will continue to do well. Business travelers are creatures of habit who provide a good base of business. If you read some of the customer comments on travel sites, they are generally very positive, especially in the area of customer service.
I think in the long run, this development will turn out to be a good investment that is a lot of fun to use.
The last couple months have been excellent and owners are starting to see a decent return on their investment. I believe the discounted rates and promotions are starting to deliver and as business travellers discover this property, it will continue to do well. Business travelers are creatures of habit who provide a good base of business. If you read some of the customer comments on travel sites, they are generally very positive, especially in the area of customer service.
I think in the long run, this development will turn out to be a good investment that is a lot of fun to use.
B
beaconer
Guest
Prideweek will have the entire hotel stock in Toronto booked. A huge influx of people into the city. I think if you try calling around, to get any hotel room for next weekend, I think you'll have a tough time. You can also expect the same thing during the Film Festival, among other events.
It's exactly as SGM says, its the reputation and size of the event that is selling out the hotels.
It is good to hear that 1KW will reap the benefits of this as well, but its real test is the time in between, and its ability to translate the revenue (expected and unexpected) into profit.
It's exactly as SGM says, its the reputation and size of the event that is selling out the hotels.
It is good to hear that 1KW will reap the benefits of this as well, but its real test is the time in between, and its ability to translate the revenue (expected and unexpected) into profit.
A
andreapalladio
Guest
Yep. Selling hotel rooms during pride weekend is the same as selling Nair. You don't even have to try.
T
thx1038
Guest
Hi civdis
thanks for filling us in. I'm glad things are going well for 1 king. Any idea roughly how much the investors are getting on the monthly/
thanks for filling us in. I'm glad things are going well for 1 king. Any idea roughly how much the investors are getting on the monthly/
S
sdoody
Guest
I'm another investor in 1KW, and although we don't have the final figures for May yet, based on the percentage occupancy it looks like I'll more than cover my mortgage+condo fees for that month.
In June (and likely extending longer), my unit is being rented out for the entire month as part of the monthly rental program, which covers my mortgage + condo fee and leaves about $600 or so extra. A surprising number of the units in the building (I think the count was getting close to 100) are currently rented out on a monthly rental basis, so it looks like that might be a great way to fill up space not occupied by hotel guests (also providing a market that hopefully won't be as affected by seasonal fluctuations).
In June (and likely extending longer), my unit is being rented out for the entire month as part of the monthly rental program, which covers my mortgage + condo fee and leaves about $600 or so extra. A surprising number of the units in the building (I think the count was getting close to 100) are currently rented out on a monthly rental basis, so it looks like that might be a great way to fill up space not occupied by hotel guests (also providing a market that hopefully won't be as affected by seasonal fluctuations).
C
civdis
Guest
thx1038
I'm not sure as I am currently not in the pool, but my understanding is that the smallest units were receiving approximately $1500 for the month of May. Larger suites would receive more depending on your rate factor. This was in a month where occupancy was around 70% and rates were deeply discounted.
I'm not sure as I am currently not in the pool, but my understanding is that the smallest units were receiving approximately $1500 for the month of May. Larger suites would receive more depending on your rate factor. This was in a month where occupancy was around 70% and rates were deeply discounted.
C
canarob
Guest
Doesn't V of E have a unit in 1KW? Let's hope someone throws a wild pride party in it this weekend.
G
gbelan
Guest
grow up canarob^one of the reasons the guy left the forum .
T
thx1038
Guest
Did V of E leave? dudes we have to be a bit more rispectable here.
A
adma
Guest
...or in the case of 1 King, speed sticks...
E
Ed007Toronto
Guest
With the arrival of junior in less than two months my wife is in a mad tear to get the apartment ready. So Ed spent last weekend tearing out carpets and vinyl tiles to expose the hardwood floor (why the previous owners covered them up escapes me). Either way it meant sanding and staining on Monday which meant two nights out of the apartment. So we moved to 1 King. Here's some pictures from the 40th floor. As to relevance to this thread, the place was busy both day and night. Even after midnight the bar area (small certainly) was busy. Harry said that things were really picking up. As an outsider it looked like that may be the case.
ED and AP live close by.
West Donlands. Can't wait.
Spire @ 39 floors. Today it hit 40.
Finishing the 39th with MikeTorontoLand in the distance.
Changes to UrbanToronto being announced within the week.
ED and AP live close by.
West Donlands. Can't wait.
Spire @ 39 floors. Today it hit 40.
Finishing the 39th with MikeTorontoLand in the distance.
Changes to UrbanToronto being announced within the week.
S
Sir Novelty Fashion
Guest
^ Now that's an intriguing kicker.
I passed the 1 King lobby the other night - there was a small but lively coterie of beautiful people in evening dress clustered around the 1 King bar just after midnight on a Tuesday, looking like extras from a liqueur ad. It was the one sign of real life on the whole strip; kinda nice.
I passed the 1 King lobby the other night - there was a small but lively coterie of beautiful people in evening dress clustered around the 1 King bar just after midnight on a Tuesday, looking like extras from a liqueur ad. It was the one sign of real life on the whole strip; kinda nice.
M
mpolo2
Guest
I noticed yesterday that the restaurant on the ground floor is being renovated for the xth time. What is going on in there?