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THE BASICS Toronto's oldest continuously operating hotel, the Gladstone is also the city's newest boutique destination.
Omni Hotels, which says that its 145-year-old Parker House in Boston is the longest continually operating hotel in the nation, is undertaking an extensive restoration of San Francisco's 75-year-old Financial Center Building.
Others locate that nerve center a couple of hundred yards west, in a squat Romanesque Revival building where the Gladstone, Toronto's oldest continuously operating hotel (it was built in 1889), was reborn after a lengthy restoration in 2005.
Although student housing is an improvement over the S.R.O., she said, "The blight that was the operating hotel was enormous," adding, "Under this owner it has not been a well-run operation".
"Once you put the foundation in the ground and start with construction, from an investment point of view, it almost always makes the most sense to proceed, even if market demand appears shaky," he said, "because a completed and operating hotel can generate some revenue to defray development costs".
He ticks off the amenities of this acquisition: "an operating hotel, gaming, development land and intellectual property rights".
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"We have operating hotels producing a cash flow.
The university said it chose Shaner to participate in part because the company has experience in building and operating hotels in a campus town.
Besides operating hotels, Six Continents manages 2,000 pubs and restaurants under the names Ember I, All Bar One, O'Neill's and Harvester.
But not visitors to the Copper Queen Hotel, a rustic old place that is considered Arizona's longest continuously operated hotel.
It now operates hotel, restaurant, conference and event facilities there and gives public tours.
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