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Credit(s): Walker Hospitality
Having already successfully soldout of all phase one and two revenue-generating vacation hotel suites, the owners and developers of Victoria’s Oak Bay Beach Hotel have just launched phase three – rewarding the first 10 buyers with a whale of an investment return.
The first 10 buyers of the new, 25-unit phase are guaranteed a 3.9 per cent annual return of their investment – nearly doubling the hotels typical, 2 per cent, triple-net return rate on vacation hotel suites. The phase threeunits range from $379,000 to $1.1M and include studios, junior suites and one-bedroom suites, measuring between 450 and 750 square feet.
“We’ve been up against a tough market over these past few years,” said Kevin Walker, owner and developer of the Oak Bay Beach Hotel. “But instead of rolling over or waving a white flag, we’ve responded with a number of innovative selling tactics, such as the 100 per ...