Toronto St Regis Toronto Hotel and Residences | 281.93m | 58s | JFC Capital | Zeidler

[rpeters]

Regarding shady people… sorry, but your assumptions seem to have risen out of ignorance of what is going on, not out of particular knowledge, so I think you're unqualified to make that accusation.

42

Well it's not really an accusation, it's more of a statement of opinion based on the serious lack of transparency, but I think in light of the recent article from the star it may warrant an "I told you so". Look at how these investors are getting treated, the name Trump is now becoming shady in and of itself.

 

[000]

If developers stopped asking hundreds of dollars extra per square foot "just because", and investors stopped paying it, none of these bad things would happen

Marketing gimmicks rarely last for the lifetime of a building, and a buildings is only iconic until it's superceded by something MORE iconic. Who's going to pay $600/night to stay here? Maybe once, to see what the "big deal" is about, but then you realize you can have an equally comfortable stay somewhere else for far less. And investors should know better, after the 1 King fiasco, that hotel-condo units are taxed as commercial...

 

[taal]

One thing I don't get ... the difference between commercial / residential tax rate is huge ... how could the developer not know upfront which one it would be ! Condo fees having nothing to do with it, and condo hotels generally have a very high monthly fee due to all the services, but this should have been made clear ...

 

[Tewder]

Who's going to pay $600/night to stay here? Maybe once, to see what the "big deal" is about, but then you realize you can have an equally comfortable stay somewhere else for far less.

I hate to tell you this but there are people out there for whom paying $600 a night is neither 'expensive' nor unreasonable. Trump may not appeal to your sensibilities, or to those of many at UT, but let's not deny that it does have massive appeal for a certain demographic, and a very international demographic at that!

 

[000]

I hate to tell you this but there are people out there for whom paying $600 a night is neither 'expensive' nor unreasonable. Trump may not appeal to your sensibilities, or to those of many at UT, but let's not deny that it does have massive appeal for a certain demographic, and a very international demographic at that!

The market has already spoken.. Trump isn't able to pull in more than 300/night on average

 

[Conrad Black]

I would think it takes time for a hotel like that to make its mark. And it is still an active construction site which can't help.

 

[trumptoronto]

Well it's not really an accusation, it's more of a statement of opinion based on the serious lack of transparency, but I think in light of the recent article from the star it may warrant an "I told you so". Look at how these investors are getting treated, the name Trump is now becoming shady in and of itself.

As many of you already know, there are two sides to every story you read in The Star. And I wish I could say more, but with issues before the court, I cannot. As for the hotel itself, it is currently ranked #1 out of 118 hotels in Toronto by tripadvisor.com readers. Considering that the hotel has only been open since January 31, that's quite a compliment to the level of service and attention to detail that the hotel provides its guests. As any hotel operator can tell you, it takes time to reach a "stabilized" occupancy rate (three years is the usual benchmark). Hotels do not open at 100% occupancy.

 

[000]

I don't doubt Trump is doing an excellent job at accommodating its guests. But it is telling that even with its #1 ranking in the city vacancy rate remains stubbornly high. The 5-star space is overcrowded. In a few years a new Delta will join the ranks. There is a limited number of wealthy that live in and pass through this city.. maybe a casino will help, but even the casino will have its own hotel competing for dollars. Unless the world suddenly bursts into prosperity again I expect trouble to persist...

 

[James]

As an owner in One King, I can tell you that the two projects are very different. Although we had early issues with our developer, we have taken control of our building, put a good hotel management team in place and by and large, are now very happy with our investment. Prices in One King are artificially low because of perceptions created at the beginning of operations and very tight financing restrictions placed on these types of suites by the big banks. I can tell you that I am happy with my monthly cash flow (which more than pays for all expenses including mortgage payments). This will be very hard to achieve in Trump Tower due to their extremely high fees and outrageous capital cost of their suites. I feel bad for these investors.

I feel bad and it really is an unfortunate situation however I don't believe there is anyone to blame. I know of no real investor who is willing to put down any sum of money without knowing exactly what the figures work out to be (and I'm not talking about figures on a glossy marketing brochure or figures that a salesperson gives you). As an investor myself, I was very interested in the One King West project too when it was released but I shied away from it due to unfamiliarity with the hotel-condo operation and lack of track-record for this type of ambitious project. I'm quite happy to hear that there are positive ROIs for One King West and I can only hope that the balance sheet will be green for Trump Towers too, but this is yet another glaring example of people falling into the hype and visions of big dollar signs getting the better of them. Caveat emptor indeed.

 

[UrbanAffair]

As many of you already know, there are two sides to every story you read in The Star. And I wish I could say more, but with issues before the court, I cannot. As for the hotel itself, it is currently ranked #1 out of 118 hotels in Toronto by tripadvisor.com readers. Considering that the hotel has only been open since January 31, that's quite a compliment to the level of service and attention to detail that the hotel provides its guests. As any hotel operator can tell you, it takes time to reach a "stabilized" occupancy rate (three years is the usual benchmark). Hotels do not open at 100% occupancy.

Right, its all the Stars fault, where have I heard that nonsense prop before. I don't feel bad for either side to be honest though, greed is getting the better of them all. I think if you don't recognize the risks in high end uxury real estate and buy in anyway without realizing you could be set for a loss in the end then you are asking for trouble when certain segments of the high end market slow considerably or crash and one must do their due diligence when buying in such a easily influenced re market segment. That said, hasn't this taken over the period a builder would be have before he would have to give back peoples investments anyway? I feel like its taken forever to get this built up and occupied compared to other equally tall and expensive buildings in TO.

 

[TOCondoGarden]

Another media article proclaiming a condo bust? I read these types of articles everyday, but there should be stories everyday about how amazing Toronto has become. I guess that's not "news" or its considered un-Canadian to boast. I travel a lot, and I always love coming home to the best City in the world. The world is in a mess...and we are doing really well here. Really well. There is a reason why people immigrate and invest here after all. For such a small country, population-wise, we are top-notch and well-respected in the world.

I guess I just don't have the same enthusiasm for Toronto of yesteryear. The City was actually boring 20 years ago and downtown was only a place to work.

Invest in what you can afford. Don't gamble. The returns might not come immediately or when you expect. Hence, why real estate is a long term investment.

At the end of the day, Trump Tower is a beautiful hotel from what I have experienced. The very definition of luxury real estate and exceptional service.

 

[scrapergeek]

As an immigrant here in Toronto, I notice a real difference between the attitudes of those who have lived here their whole lives, and those who have emigrated here. I don't want to generalize, and I'm not saying this is across the board, but more and more I hear born-and-bred Torontonians whining about trivial things, as if the world is going to come to an end. You only have to read The Star (or even worse, The Star's comment section) for a taste of this. There is so much "small town thinking" from this group.

Us recent arrivals however, seem to have an attitude of "the sky is the limit" (literally). We feel lucky to be here. Life here is a big step UP in quality of life.

So next time your streetcar is late, or you spill your latte, just try and see Toronto through the eyes of an immigrant, and you'll realize what a wonderful place it is.

As for Trump, I'm no rich man, but I hope it succeeds for everyone involved.

 

[Panontario]

As an immigrant here in Toronto, I notice a real difference between the attitudes of those who have lived here their whole lives, and those who have emigrated here. I don't want to generalize, and I'm not saying this is across the board, but more and more I hear born-and-bred Torontonians whining about trivial things, as if the world is going to come to an end. You only have to read The Star (or even worse, The Star's comment section) for a taste of this. There is so much "small town thinking" from this group.

Us recent arrivals however, seem to have an attitude of "the sky is the limit" (literally). We feel lucky to be here. Life here is a big step UP in quality of life.

So next time your streetcar is late, or you spill your latte, just try and see Toronto through the eyes of an immigrant, and you'll realize what a wonderful place it is.

As for Trump, I'm no rich man, but I hope it succeeds for everyone involved.

well said

 

[khris]

As an immigrant here in Toronto, I notice a real difference between the attitudes of those who have lived here their whole lives, and those who have emigrated here. I don't want to generalize, and I'm not saying this is across the board, but more and more I hear born-and-bred Torontonians whining about trivial things, as if the world is going to come to an end. You only have to read The Star (or even worse, The Star's comment section) for a taste of this. There is so much "small town thinking" from this group.

Us recent arrivals however, seem to have an attitude of "the sky is the limit" (literally). We feel lucky to be here. Life here is a big step UP in quality of life.

So next time your streetcar is late, or you spill your latte, just try and see Toronto through the eyes of an immigrant, and you'll realize what a wonderful place it is.

As for Trump, I'm no rich man, but I hope it succeeds for everyone involved.

I'll complain all I want when my streetcar is late. We pay for the service, and are allowed to complain about it.

 

[Ryan_T]

There are far too many examples of 'lesser' cities in smaller and less developed countries that have 10x better transit systems. It's not excusable.