CBRE TOURISM & LEISURE GROUP VALUATION & ADVISORY SERVICES REGIONAL TOURISM OPPORTUNITIES PROJECT – ONTARIO’S LAKE COUNTRY FINAL REPORT FILE NO. 18-APPRHOTELS-0152 CBRE Valuation & Advisory Services CBRE Limited CBRE Tourism & Leisure Group Valuation & Advisory Services 145 King St. W. Suite 600 Toronto, ON, M5H 1J8 416.362.2244 Tel 416.362.8085 Fax www.cbre.ca File no: 18-APPRHOTELS-0152 March 25, 2019 Orillia Area Community Development Corp. PO Box 2525 22 Peter St. St., Orillia, ON L3V 7A3 Attn: Ms. Wendy Timpano Via Email:
[email protected] RE: REGIONAL TOURISM OPPORTUNITIES PROJECT FOR ONTARIO’S LAKE COUNTRY – FINAL REPORT Dear Ms. Timpano: In accordance with the terms of our engagement, CBRE is pleased to submit the attached Final Report in conjunction with the Regional Tourism Opportunities Project for Ontario’s Lake Country. This Report presents a summary of all study findings, including details on the 3 tourism investment opportunities, and outlines a strategic framework for tourism investment to assist the Steering Committee in attracting potential investors/developers. The entire study, including all findings and conclusions, pertains only to the Ontario’s Lake Country market area, and is based on our knowledge and information with respect to current and projected economic data, sources of existing lodging, restaurant and attraction demand and supply, and the status of the competitive market as at the completion of our field work on March 15, 2019. Projected operating results herein are based on an evaluation of the present economy of the area, but do not consider or make provision for the effect of any sharp rise or decline in economic conditions.