PRESTIGE PRESS RELEASE – MARCH 2012
With less than $2,000,000 available we expect the Homewood offering to close in a couple of weeks. Please let me know ASAP if you are interested in investing in this exciting Calgary Airport hotel opportunity!
PRESTIGE PRESS RELEASE – NOV 2011
Hampton and Homewood Construction Update
Prestige Capital is pleased to announce that the foundation construction of the Hampton and Homewood is now fully underway. Last Thursday, excavation crews were been mobilized to dig the basement portion of both hotels and to prepare for piling construction. Since then, the excavators have made tremendous progress and have less than 1/8th of the basement footprint left to complete. Pictures of construction progress can be viewed on the Prestige Capital website.
Over the past few weeks, Prestige Hospitality, the General Contractor (Aman Construction), and the project’s engineers have made significant progress in redesigning the piling system. The final piling system that the engineer has approved will save both hotels a total of approximately $700,000.
In the next 2 – 3 weeks, there will be a build up of construction materials, at which time crews will begin the piling construction phase.
PRESTIGE PRESS RELEASE – MARCH 2011
Calgary Airport Hotels and Conference Centre featuring franchised locations of Hilton Hotels Prestige Capital – News Release March 9, 2011
Hotel industry and Calgary Airport gaining significant traction Recent news and industry reports bolsters project outlook.
The recent Colliers International Hotels report shows hotel ownership transactions in Canada have increased 73% from the year before.
This surge in transactions is fueled in part by demand from foreign investors who are looking for opportunities in Canada. Average hotel transaction values jumped 48% from the year before, while Alberta surpassed the national average by 18%. Colliers expects the hotel industry to continue booming in 2011 with a project 30% increase in transactions from current levels.
“This report is very positive for our project at the Calgary Airport area and further demonstrates the upside value and potential of our Hilton branded development…”
There has also been a lot of media attention given to the changes happening in and around the Calgary Airport. In a recent 660 news interview, Alderman Jim Stevensons talked about the significant impact the expansion project will have on traffic patterns in the northeast part of the city. In addition, the Calgary Herald recently reported that “a record number of passengers travelled through the Calgary International Airport last year, topping 12.6 million…
” This trend demonstrates the significance in the Calgary Airport’s $2.4 billion expansion project”. Bruce Graham, CEO of Calgary Economic Development says “the expansion is becoming increasingly important as we rebound from the recession, [and] as Calgary becomes an increasingly international destination.”
Copies of these public articles can be downloaded from the links below:
Hotel Investment surge – http://www.prestigecapital.ca/documents/HotelInvestmentUp_March2011.pdf
Airport Traffic – http://www.prestigecapital.ca/documents/CalgaryTrafficSoars_March2011.pdf
660 News Report – http://www.prestigecapital.ca/documents/BarlowClosure_News.mp3
- Curtis Potyondi, President of Prestige Capital.
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Phase 1 Hampton by Hilton – Important Points To Consider – JANUARY 2011
1. Strategic Location. The Calgary International Airport region is the fastest growing economic zone in Calgary with numerous major developments currently underway including a $2.4 billion expansion project at the Calgary International Airport. This expansion closes Barlow Trail NE.
2. World Class Branding. Hilton Worldwide is the fastest growing international hotel chain with over 3500 hotels across 81 countries. Most recently, Hampton Inn was selected as the #1 franchise business by Entrepreneur Magazine for their 32nd Annual Franchise 500 Magazine.
3. World Class Management. Hilton Manage LLC has more than 90 years of proven hospitality management experience and continually outperforms industry competitors.
4. Solid Principals. The Principals of Prestige Hospitality have proven track records in global and brand management, franchising, large scale construction, realestate development, and finance.
5. Significant Upfront Capital. The Principals have invested over $13.2 million ($3.9 million into Hampton Inn development) in capital and equity into the project, all of which stay in as equity in the project.
6. Project is Shovel Ready. All development approvals, franchise agreements, and management agreements are completed, meaning the project can begin immediately.
7. Focus on Business. The focus is on building a portfolio of hospitality assets and not on profiting on investor funds from upfront lifts or annual management fees.
8. Preferred Share Distribution. Due to the preferential tax treatment of preferred shares, a 9.0% preferred return equates to a higher interest return.
9. Solid Business Deal. Unlike some exempt offerings, our project does not rely on a “hope” strategy in order to succeed. In addition, independent due diligence has been conducted on this project from HVS, BDC, Exempt Analysis, and Hilton Worldwide.
