Small updatesI contacted Mcdonald properties re the Surrey joint venture. Closing date mid winter.
Cash will flow into the jv then. They carry the equity at under 4 million.
There is a note in the financials that they are on the hook for loan guarantees of 6 million.
Not sure of the contribution,but it should be noteable.
The Fraser Business Park Days Inn can now be booked for January.
So, the Hotel will be open for 2019 contribution.
Room rates posted between on the Wyndham web site from 130 to 200 per night.
So, 40 to 60 cdn.
I believe they have 270 rooms. run at 70% capacity. 3.5 million revenue.
The control 61%, so a couple million per year revenue.