Regional Investment Opportunities
COMMUNITY PROFILE – Sylvan Lake
Sylvan Lake is one of Alberta's leading tourism destinations, situated within a 90 minute drive from both Calgary and Edmonton and a 15 minute drive from Red Deer. This bustling community is home to one of Canada's top beaches and is centrally located for more than 2 million Alberta residents. Over 11,000 people reside in Sylvan Lake and it is one of Canada's fastest growing communities, as well as one of Canada's youngest communities. Sylvan Lake is one of Alberta's best lakes for sailing, boating and other water-based sports. It has 1.6 kilometres of sand and grass beach.
Currently there are 6 hotel/motels with a total of 200 rooms and 9 bed and breakfasts with 17 units in Sylvan Lake. There are also 7 campgrounds with a total of 515 campsites, some of which are slated for redevelopment. Sylvan Lake presently has 34 restaurants, including 10 national franchises.
With over 900,000 visitors annually, Sylvan Lake Provincial Park is Alberta's second busiest day-use park. The Town's Economic Impact of Tourism Study completed in November 2006 estimates visitor spending generates an economic impact of $48.4 million on an annual basis. See the Economic Impact of Tourism Study for additional Sylvan Lake tourism statistics.
To learn more about Sylvan Lake, please visit www.sylvanlake.ca
TOURISM INVESTMENT OPPORTUNITY – HOTEL DEVELOPMENT
In 2006 the Town of Sylvan Lake adopted an Area Redevelopment Plan to guide the redevelopment of the downtown and waterfront areas of the community. This plan provides vision and guidelines for the creation of a pedestrian-oriented, resort-style community.
INVESTMENT, REVENUE AND MARKET ANALYSIS
The Economic Impact of Tourism Study completed in November of 2006 for the Town of Sylvan Lake identified the need for additional hotel room capacity.
The Town of Sylvan Lake Waterfront Area Redevelopment Plan identifies the following goal for the community: "Promote the development of more hotel rooms and a conference centre" (Section 4.1.4).
With nearly 100 per cent occupancy in the summer and an estimated annual occupancy rate of 63 per cent, there is need for more accommodation as the community grows at a record-setting pace.
There are several privately owned land parcels available for development. The Town can assist interested developers in establishing relationships with local land owners.
For more information regarding this opportunity, please contact Scott Martin.
Phone: (780) 415-8827 or Email: email@example.com
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