Kitchener Waterloo’s Hospitality Sector Is Hot

Something is in the air – maybe it’s the warm summer weather – business is booming in Kitchener Waterloo’s Hospitality sector.

When people talk about the Hospitality sector of Commercial Real Estate, they’re usually talking about Hotels, Restaurants, Convention Centres, Golf Courses & other tourist attractions.

In Kitchener Waterloo, the Hotel sector is hot.  2010 saw the sale of the St Jacobs Best Western (south of the St Jacobs Market) & The Destination Inn on King Street in Waterloo (opposite Conestoga Mall)  to an accomplished hotel operator who owns luxury Hotel properties in the UK & India.  The new owners plan to renovate both hotels (which are in good condition now) to become higher end and more “business friendly.”

The Waterloo Inn completed a multi million dollar renovation & exterior upgrades earlier this year and seems busier than ever.  I had a great lunch there last month at Rushes, the high end restaurant on site.

Many hotel developers & operators are actively looking for sites in Waterloo Region – there is strong demand from both local and international firms.

There is also new hotel stock coming online; the hotel at the Barrel Yards in Waterloo (formerly the Canbar lands) has started construction, but work has slowed considerably in recent months.

At Andrin’s City Centre condo project, the local partners for the Mayfair Hotel restoration have been announced, and there is talk about a Charcoal Group restaurant up top (totally unconfirmed at this point, although one of the Charcoal Group partners is a partner in the Mayfair Hotel restoration).  The renderings look awesome; this will be a tremendous asset for residents at City Centre and everyone who works, lives & plays in downtown Kitchener.

Artist's Rendering of The Mayfair Hotel Restoration & Expansion

Speaking of Charcoal Group, they have a new restaurant coming to The Shops at Uptown Waterloo.  Right now, the entire interior South Wall is behind construction hoarding, and Shoppers Drug Mart (currently on the North side) has announced a new 12,000 square foot store for part of that space.  I anticipate that the restaurant will be in front of this space or in the previous Shoppers Drug Mart space.  Hopefully there will be a patio – if you hear anything, send me an email or tweet & let me know!

Frat Burger just opened at the corner of King & University (in the Starbucks plaza) and is supposed to be very good.  They say they have a vegan burger, so we will be checking it out this week.

The Morty’s patio is packed every time I drive by it, and everytime we’re at Wildcraft, Bauer Kitchen or Charcoals they are full.  Morty’s has the regions best wings (back when I ate them), and serves vegan burgers & pizza for those so inclined.  Probably the best place to watch football on a Sunday in Waterloo!

Times are good for popular restaurants in Waterloo Region, and as condos like 144 Park (demolition starting this summer) RED by Momentum, City Centre, Arrow Lofts come online – and looking further out to 2016 when LRT is slated for completion – expect things to get even hotter.

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