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Lecture 7

AFM 211 Lecture 7: Red Spruce Notes

3 Pages

Accounting & Financial Management
Course Code
Nancy Vanden Bosch

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find more resources at Who Am I?  Parent company Venere o Renovation proposal  Significant upfront investment  Concerns  ROI, payback period  Combat occupancy rates w/o renovation Industry/Market  Resort industry portion of hospitality industry  160 resorts in BC  Corporate or leisure guests  Tied to tourism industry performance o Tourism industry depended on domestic and international economic conditions o Growth forecasted to slow down over the next few years  Remaining growth fueled by increase in international tourist trips to Canada  Competition on offerings, location, price  4 resorts in closest geographic proximity as competitors o Blue Heron  Targeted couples  Rooftop terrace  weddings, events  No pets  Entirely renovated since 2009  Luxurious brand o Dunridge  Family  Open in winter  Recreation and large spaces  corporate  Pet-friendly o Irvine find more resources at find more resources at  Award-winning golf course  Other recreational activities  families  Not pet-friendly o Killoran  Smaller than Red Spruce  Couples who wanted a quick getaways  Pet-friendly  Industry  upgrade needed every 7 years o RP  every 10 years, renovate room  Contributed to declining
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