Mundi Hotel Enterprises is holding a groundbreaking ceremony on Wednesday for its six-storey, 105 room Four Points by Sheraton hotel going in beside Penticton Trade and Convention Centre.
The Vernon Avenue hotel will also include a 100-seat restaurant and amenities like a pool and fitness room.
In 2020, the city owned the property and started looking for developers willing to purchase and construct a high-quality hotel at 903 Vernon Avenue. In December of that same year, the city inked a $1.5 million deal with Mundi Hotel Enterprises.
In March 2022, the hotel proposal received praise from members of city council who approved the development permit for the hotel.
As part of the contract for the hotel, the city has committed to providing upgrades to the Penticton Trade and Convention Centre and improving access between the hotel and PTCC.
The new hotel will allow for new and different conventions and events to come to the city, according to Dean Clarke, the manager of Spectra, the company that operates the PTCC and SOEC.
“We will now be able to solicit and bid on new conventions, meetings and special event business, which we have previously not met hosting requirements,” said Clarke in March.
Some councillors expressed concerns about lack of parking in the area of the PTCC and South Okanagan Events Centre, especially when events are going on.
Mundi is also the builder of the Fairfield Marriot Hotel located on Eckhardt Ave.
READ MORE: 6-storey 103-room Penticton hotel gets green light
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