Institution: Olds College, Olds, Alberta, Canada
Project Partners: Pomeroy Inn & Suites
Olds College has broken new ground on a partnership with the Pomeroy Inn and Suites. Through a Trust, which was established by the college, they were able to invest a 40% stake through a Limited Partnership in the Hotel and Convention Centre which is located on college land. While the college doesn’t have a role in operations, a revenue stream is created from the equity in the operation as well as a 30-year lease on the land. Not only is having a conference centre and hotel on campus a great asset for the college, but the hotel also has a teaching brewery attached for the Brewmaster Program. The new Hospitality Program will also use the hotel as a teaching site. The innovation doesn’t stop there…the college partnered with Chartwells, the college’s food provider, to bid on the hotel food and beverage which includes the conference services as well as a full-service restaurant. Again, the college is not involved in operations but shares in revenue.
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