EDMONTON - Downtown Edmonton’s iconic Sutton Place Hotel is about to be sold, with a deal near completion.

“I am hoping whoever buys us realizes the value of this hotel, in terms of people and the contributions we have made over the past seven years,” said general manager Richard Wong.

The 313-room luxury hotel has been a supporter of many events, and Wong, who is president of the Downtown Farmers’ Market, board chair of the Pilgrims Hospice Society and president of the Hong Kong Business Association (Edmonton), said he hopes the hotel will continue to play a role in the community.

“The challenge is that Sutton Place has set the bar, and they (the new owners) have to beat it, that’s really what it is,” said Wong.

“To come in and just operate a hotel is really not acceptable in my view. The question is what can they do to make it better.”

Wong said Sutton has done wonders raising the hotel back to its former glory. It was opened as a top-tier Four Seasons, then later sold to Hilton and then the Sheraton chain before Sutton purchased it in 2003.

“This building has strong bones and a great history. When it opened, it was heralded as one of those hotels we have, very much like the Macdonald. We hope the new owners would bring back that stature, that regalness.”

As a non-branded property playing in the big leagues, the Sutton has been named the hotel employer of choice in Alberta for three consecutive years.

The owner of the four-hotel Sutton chain (with other hotels in Vancouver, Toronto and Chicago) has other business interests that need fresh cash.

“It’s unfortunate, as we are very successful. When you need cash, you sell the golden goose sometimes.”

Wong said there has been a lot of interest from buyers.

“This is all because of what is happening at the macro level (think oilsands) and the micro level, with downtown development and the new arena being part of that,” he said.

“When oil hits $100, it is going to be like 2005, ‘06 and ‘07 all over again.”

Wong started work as a bellman exactly 25 years ago in Vancouver at the Meridian, which later became a Sutton hotel. He is uncertain whether the new owners will keep him on as general manager.

“We have had fun in Edmonton, and it has been great,” he said.

“But whatever happens, happens.”

Another major downtown hotel, the Crowne Plaza Chateau Lacombe, was sold to an Edmonton developer for $47.8 million in August.

dcooper@edmontonjournal.com