Price set at $10 million for right to build hotel at Kelowna’s airport
A Kelowna realtor has posted a call for expressions of interest to build and operate a hotel that could be attached to the Kelowna International Airport terminal.
It comes with a listed price of $9,995,000.
“The Kelowna International Airport is seeking an experienced hotel developer to provide the first on-site airport hotel in Kelowna and elevate the passenger experience,” a brochure posted on HM Commercial Group/Macdonald Realty’s website says. “Preference will be given to developers with previous airport hotel experience. Interested parties are invited to submit proposals for design, build, and operation of a hotel on a long-term lease basis.”
READ MORE: 'Economic enabler': How the founding of Kelowna airport 75 years ago turned the city around
There are two potential sites for the hotel but the preferred one is at the rental car lot. It can cover up to 3.9 acres but must provide at least 1,000 new parking spaces, likely in a parkade.
The hotel has to be a minimum of 3.5-4 stars and have 100 to 200 rooms but the allowed density is being reviewed by the City of Kelowna, the posting says.
Food services, a restaurant and meeting rooms could be part of the project, along with possible rooftop and other airport destination amenities.
Since the land belongs to the federal government, it can only be leased and an 82-year lease is suggested.
“Proven on-airport development experience would be beneficial,” the brochure states. “The opportunity includes working in partnership with Kelowna International Airport to define the hotel development project, prepare a feasible business case for both hotel operator and land owner as well as manage the hotel on completion of the property development.”
There is no deadline listed for submissions in the posting.
More details can be seen here.
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