Pemberton Festival A Success
Pemberton Festival reached full capacity of 40,000 music fans this past weekend, making the three day event a success in its very first year. The festival utilized Live Nation’s vertically integrated company to produce the festival, handle all of the ticketing, website, merchandise and creative services.
The success of Pemberton in its first year is a testament to an incredible line-up of artists, led by headliners Coldplay, Tom Petty and the Heartbreakers, Nine Inch Nails, JAY-Z and The Tragically Hip. The success is also due in part to it’s breathtaking setting where artists performed against the beautiful backdrop of Mount Currie to fans enjoying the event on the grounds of some of Canada’s richest farm country. Rolling Stone exclaimed that “the first annual Pemberton Festival will gladly take the title of next Glastonbury.”
“We built a world-class music festival from scratch which attracted the world’s most successful and talented artists and music fans from every corner of the globe,” said Shane Bourbonnais, President of Touring and Business Development for Live Nation Canada. “The lessons we’ve learned as the global leader in festival production and the enormous support we received from the government and people of Pemberton all came together to create a one-of-a-kind event that we expect to produce for many years to come.”
Climate of Condo Ownership in Whistler Brightens
Strata Owners and Management Company carve new deal at The Westin Resort & Spa
WHISTLER, BC, July 17, 2008 – A new 20-year management agreement has been implemented between the owners of The Westin Resort & Spa and OHR Whistler Management Ltd., a subsidiary of Vancouver-based O’Neill Hotels & Resorts Ltd. The new agreement has moved away from a revenue-based fee structure to a profit-sharing business plan which closely aligns the interests of the owners and management. The short term impact is expected to boost net income for the owners. The long term impact provides an opportunity for both the owners and OHR to achieve greater long term growth. The resulting increase in value has made owning a unit at this Four Diamond rated hotel that much more enviable.
“We recognized that changes needed to be made, but they had to be ones that truly made a difference for all stakeholders involved,” explained John O’Neill, president of O’Neill Hotels & Resorts Ltd. “We’ve spent many, many months candidly discussing what would work to make owning and/or buying a unit the right investment for all involved, so the changes that have been made to the terms of agreement are not just a collaboration of input between owners and ourselves, but also the franchise division of Westin Hotels.” O’Neill also stated that an investment partnership, of which they are a part, has also recently purchased a substantial number of hotel suites in the Westin, which will further align them with the other owners.
In addition to this new management agreement the interests of all stakeholders will be further enhanced with the planned multi-million hotel refurbishment program for the 8-year old resort hotel, which is to begin in spring 2009. Acknowledging the importance of this new management agreement and the need for the changes to be win-win for all, Starwood Hotels & Resorts, franchise operators of Westin Hotels & Resorts worldwide, will be contributing $1 million to the refurbishment program.
“We’re very pleased with the changes to the terms of the new agreement for current and prospective condo owners at the Westin,” said Colin Yip, president of the Strata Corporation at The Westin Resort & Spa. “For several years the owners have attempted to renegotiate several aspects of the hotel management agreement and it has finally come to fruition. The key to the new deal was changing the contract from a gross revenue focus to a shared net income focus which will result in more money in owners’ pockets. With the winter Olympic games just under two years away, the opportunities of a better bottom line can be more optimistically realized with these welcomed changes.”
Opened April 3, 2000 and twice-named the #1 ski resort hotel in North America by Condé Nast Traveler, The Westin Resort & Spa has just recently been awarded the Four Diamond-designate from AAA/CAA for the eighth consecutive year. As well, the Westin has been given the nod by AWARE with its Whistler Environment Business Award and the Hotel Association of Canada’s Three-Green Key eco-award, which recognizes the numerous green-friendly initiatives in place at the hotel.
Market Report
Market Activity for the second quarter of the year remained steady with over 200 units trading hands. Single family sales have slowed due to a lack of choices. Buyers continue to show a high level of interest in the area; however increased concern about the economy, fuel prices, and credit availability are causing some caution when it comes to decision making.
| Properties | Condominium | Home | Lot | Shared Owner |
| Whistler South | $604,310 | $1,347,571 | NA | $164,627 |
| Whistler Center | $567,350 | $1,630,475 | NA | $99,000* |
| Village Benchlands | $677,868 | $6,700,000* | NA | $131,500 |
| Whistler North | $1,315,500 | $1,458,727 | $854,667 | NA |
* One sale
Countdown to the Pemberton Festival!
The recent explosion of sunny weather has people waiting in anticipation of the summer’s biggest event. The Pemberton Music festival’s three-day outdoor concert showcasing such headliners in the music industry as Coldplay, Jay-Z and Tom Petty are gearing up to play from July 25 to 27.
The number of music fans expected to attend is 40,000, drawing people in from Canada, the US and Europe. Quite a number for a quiet farm community with a population of just over 2000. Event promoter Shane Bourbonnais of Live Nation commented “It’s very dramatic (with Mount Currie in the background), the scenery is beautiful, the community has been from day one very supportive, and played a really great role and that’s been a great thing”.
Modeled after multi-day music festivals in Europe, this concert could become an annual event. There are very few examples of other similar festivals in North America.
The organizers are focused on logistics and eco-friendly planning. The traffic feasibility study completed in September 2007 led to approved of the traffic management plan by the Ministry of Transportation. Other agencies to approve the festival include the Vancouver Coastal Health Authority, RCMP, Squamish Lillooet Regional District and regional tourism agencies.
Carpooling is encouraged, the parking area is separate from ‘tent city’ and hydro-electric power is the main source of energy fueling the concert stages. Whistler is the official water sponsor, so there is bound to be a healthy supply.
Cost has not been a factor as early bird tickets are sold out. Three-day event passes are still available for $259.00. Daily parking passes go for $149.50 and camping fees are $90 for a three-day pass.
