Comment 68131

By Fred Street (anonymous) | Posted August 17, 2011 at 12:12:10

"They buy and hold properties for the long term, waiting for an opportunity for enormous windfall profits."

The city has been hot for hotels for years – so while the Connaught rots, the Grand stagnates and Oscar Kichi withdraws to his Linc-side holdings, the city is left with a very small pool of hotel enthusiasts. Vrancor holds the keys to the main downtown hotels in Hamilton and Burlington, and has another half-dozen name brand hotels in its portfolio.

$1.2 million seems like a lot of money, but it's basically a city block. Shame the good hearted people weren't quicker on the buzzer.

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