Saskatoon’s landmark hotel, the Delta Bessborough is now under new ownership. The British Columbia Investment Corporation (bcIMC) took ownership of the historic hotel on February 1 but just announced the acquisition recently.
The new owners took a pass on disclosing the purchase price but did indicate that they plan on investing an additional million dollars in “upgrades” to be completed this year.
The Bessborough Hotel was built between 1928 and 1932 by the Canadian National Railway. A severely depressed economy delayed the hotel’s opening until late in 1935 when its first guest was welcomed. The Baltzan family acquired the hotel in 1972 and eventually passed control to Canadian Pacific Hotels in the 1980’s. It was purchased by the Legacy Hotels Real Estate Investment Trust in 1998 and a $9,000,000 restoration project, intended to reclaim many of the hotel’s historical features was undertaken in 1999. The 225 room four star hotel graces the west bank of the South Saskatchewan River in downtown Saskatoon.
bcIMC manages a pension fund which finances retirement benefits of some public employees in British Columbia including health-care workers, firefighters and teachers. They also own the Radisson Hotel and the Saskatoon Inn. With all three hotels in their portfolio they’ve got quite a handle on the upper end market in Saskatoon.
Any guesses on the price tag of this magnificent piece of Saskatoon?
I’m always happy to answer your Saskatoon real estate questions.
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Norm Fisher
Royal LePage Vidorra