Despite opening just over a week ago, Penticton’s newest hotel is already hovering around 50 per cent capacity, said its owner.
The four-storey Fairfield Inn & Suites by Marriott opened its doors on July 15 at 602 Eckhardt Avenue, an address formerly belonging to a local bingo hall.
The hotel is the third built by Mundi Hotel Enterprises in the South Okanagan in recent years, following two Coast hotels in Osoyoos and Oliver.
Owner Ron Mundi said he has no regrets in his other investments in the region, but saw a hole in the market in Penticton.
“I feel, with my 20 years experience, Penticton is losing some corporate business to Kelowna,” he said, noting the potential of the sizeable Penticton Trade and Convention Centre. “We feel, it’s been a long time since a brand new hotel came to the Penticton market.”
While it may be a strange time to open any kind of business due to the COVID-19 pandemic — especially in the hospitality sector — Mundi said business has been good through the first few days.
“It’s tough, but our opening is starting really well. That area is busy; the business is already at the door,” he said. “Yesterday was our second day and we’re already 50 per cent full.”
And the same rings true for his other South Okanagan hotels, which he claims have seen higher revenues than last year over the past two months.
“This is a great area,” he said, “These are people staying in Canada and spending their dollars in the community.”
Looking ahead, Mundi said if the opportunity presents itself, he could see his company developing another hotel in Penticton.
“If we get any land, from the city or any private seller, we’d love to be part of a second hotel in the city,” he said. “Penticton has a market for a second hotel, there’s no doubt about that.”
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