Business Examiner Victoria - February 2017

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FEBRUARY 2017

» CONSTRUCTION UPDATE

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VICTORIA Città Group founder — Bill Patterson, received a Lifetime Achievement Award

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Victoria

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Top Vancouver Island Companies Honoured at Business Excellence Awards Gala

VICTORIA Dodd’s Furniture celebrates 40 years in business

BY MARK MACDONALD BUSINESS EXAMINER

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INDEX News Update

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Victoria 6 Sooke 7 Esquimalt 7 Who is Suing Whom 22 Movers and Shakers 23 Opinion 26 Saanich Peninsula

Quality Foods Earns Business of the Year Title

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ICTORIA – Quality Foods, which has 2 of its 13 locations in Greater Victoria, was announced as the Business of the Year the 17th Annual Vancouver Island Business Excellence Awards, honouring the best of the best in Island business January 26 at the sold-out Delta Victoria Ocean Pointe Resort in Victoria. Quality Foods was joined a finalist in the Business of the Year category with Dodd’s Furniture & Mattress and Chemistry Consulting of Victoria, and The Coulson Group of Port Alberni. “A s we’ve come to ex pect, there were some spectacular success stories this year,” notes Mark MacDonald of Business

Empire Hydrogen Energy Systems of Victoria was named Green Business of the Year at the 17 th Annual Business Excellence Awards

SEE AWARDS |  PAGE 9

Key Metrics And Room Rates Indicate Opportunities In Hotel Industry Renovated To Retain Character And Authenticity, The Craigmyle Offers Luxury Accommodation At Budget Friendly Pricing BETH HENDRY-YIM

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ICTORIA – Surging performance in the Victoria hotel ma rket has seen occupancy and average room rates at an all-time high. “Revenue per available room (RevPA R) is a key metric for looking at hotel performance. In 2016 Victoria saw the rate increase by more than 50 per

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cent since 2012. It’s poised to be even stronger in 2017,” said Randy Holt, vice president and pa r t ner at Newmark K night Frank Devencore Victoria. Coupled with the reduction of room inventory in the city, he explained that the industry will continue to see accelerating rates and improved returns for hoteliers. “There are proposals in front

of the local city councils to convert an additional 300 rooms to alternate use. With RevPAR reflecting the combined impact of the increase in occupancy from 62 per cent to about 74 per cent and average room rates rising from $120 to $160 in the past four years, it’s a great time to enter the business.” Four years ago, with the market still recovering, seasoned

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“The vision of office technology”

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VICTORIA • NANAIMO • COURTENAY • CAMPBELL RIVER • KELOWNA • KAMLOOPS

investors, Mireille Lafrance and Denis Cuerrier began searchi n g fo r a re ve n u e p ro p e r t y that constituted a ‘diamond in the rough’. According to Holt their objective was to acquire an underperforming site with good fundamentals then use their capital and management skills to affect a turnaround to SEE CRAIGMYLE |  PAGE 20


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