Canada hotels record first occupancy decline in three months
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
A $20-million redevelopment of Stampede Trail, a pedestrian-friendly seam in the heart of Calgary’s emerging Culture + Entertainment District, has resumed after a short construction break.
The roadway, formerly known as Olympic Way, runs through Stampede Park and upon completion will be a multi-use, three-lane thoroughfare that will be able to accommodate motorists, cyclists and pedestrians. Construction was paused during the Calgary Stampede but has started again, as reported by the Journal of Commerce by ConstructConnect.
CMLC, as development manager, is leading the delivery of the project on behalf of its partners at the Calgary Stampede. Industry partners IBI Group and O2 Planning + Design are leading the public realm design of the new roadway, with electrical led by Designcore Engineering and AECON as contractor.
The road is the main connector in Stampede Park and is being envisioned as a critical gathering place where guests of the BMO Centre, the Saddledome, and a future convention centre and hotel will be able to connect.
“The project requires the existing roadway to be excavated to allow for deep service work,” explains Kelly Coles, vice president building and infrastructure at the Calgary Municipal Land Corporation (CMLC).
“Then, new brick pavers, curbs, sidewalks, landscaping and lighting will be installed along the four-block stretch to complete the transformation.”
The project is being done in two phases, Coles says, to maximize efficiencies and minimize disruptions and enable ongoing operations at the venues in Stampede Park as well as construction of the expansion of the BMO Centre, forthcoming extension of 17 Avenue S.E., and the Green Line LRT project.
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
Opened in 2019 as the largest Residence Inn in the world, the 390-suite Residence Inn Calgary is a 33-storey property located in the Beltline District in downtown Calgary.
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