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Coal Harbour Realty AdvisersCoal Harbour Realy Advisors, Inc.
700-1199 West Hastings Street
Vancouver, British Columbia
Canada V6E 3T5
Marty Dohm 604-609-6091    Fax 604-609-6094

Hotel for sale in British Columbia Canada
SOLD


The Plaza Hotel is located in the heart of the downtown shopping and business district of Kamloops, close to Riverside Coliseum, home to the Kamloops Blazers of the Western Hockey League, theatres, art galleries, boutique stores and restaurants.

The downtown of Kamloops has seen a resurgence of new condominium development which has done much to revitalize the area.

The city of Kamloops is located 356 kilometers (222 miles) northeast from Vancouver in the interior of British Columbia.

Kamloops is the third largest city in the interior and home to approximately 82,000 residents.

A milder climate and a generous amount of sunshine has made Kamloops a popular year round recreational destination. Kamloops is known as the “Tournament Capital of Canada” hosting numerous sporting events such as the Ford World Curling Championships, World Fly fishing Championships, the 1993 Canada Summer Games, the Labatt Brier Curling Championships, and Skate Canada.

Also within a 45 minute drive from Kamloops is Sun Peaks a three mountain ski resort which is the second largest ski resort in British Columbia second only to Whistler/Blackcomb near Vancouver and third largest in Canada.

The trading area is currently 119,000 persons and the average household income is $39,000 CDN.

Hotel for sale in British Columbia Canada

When the Plaza Hotel first opened its doors on May 1, 1928, it was the crown jewel of British Columbia's Interior hotels, where travelers stayed to be pampered and to experience luxury found nowhere else in the region.

Now the 67 room, 5 story, Hotel has been painstakingly restored to the grandeur, style and era of its original design, back to when it was a monument to luxury and fine living. When guests enter the warm, wood-paneled lobby, they know that they've discovered unrivaled and affordable elegance found nowhere else in Kamloops.

Hotel Fireplace

Major upgrades were completed within the last few years at a cost of approximately $3,753,000.

The approximate breakdown of the various expenditures on the capital assets are as follows:

Canada Hotel Room

The approximate breakdown of building expenditures are as follows:

In 2001, all elevator mechanisms were replaced and the two adjacent parking lots were paved at a cost of approximately $80,000 and $25,000, respectively.

Canada Hotel Lounge

SUMMARY:

Canada Hotel Suite

The former cabaret that is located in the basement is not operating and there is an opportunity to renovate and re-open as a pub, restaurant or cabaret.

Soundproofing would be required if the cabaret is converted back to a pub establishment.

All other interior areas of the hotel have been renovated and are open and operating.

The exterior of the hotel has not been recently painted which will allow the new owners to paint it the color of their choice depending on whether it becomes a branded hotel.

Also, the hotel is not currently under any management agreement again allowing the most flexibility for the new owner.

Canada Hotel dining room

Hotel Summary:

Price: $3,500,000 CAD

Hotel Wine Store

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