Mr. Gordon:

Forecasts show that a range of

from two per cent to six per cent on the invested capital could be realized and that an average return of at least three per cent could be expected after meeting all charges including maintenance, taxes and depreciation.

And later, during discussions of eventual development of the area around the hotel:

Mr. Gordon:

Our committee which considered

the suggestion for this hotel came to the conclusion there would be a high degree of occupancy.

Then a little later on, following a question regarding the name which had not yet been decided and the probable opening date, the hon. member for Peterborough (Mr. Fraser) asked the following question:

Is it to be all your development?

Mr. Gordon:

Our new hotel in Montreal is in

the centre of the city and within 500 miles of it are nearly 53 million people; and we know from investigation there will be very intense interest in using the convention facilities of this hotel.

And again later:

Mr. Gordon:

They are very inadequate and

that is demonstrated by the fact that we already have received a great number of inquiries from organizations which have not been able to hold their conventions in Montreal by reason of their size.

Later, on the same subject:

Mr. Gordon:

I am positive that the hotel will

stand on its own merits.

Later, in general discussion concerning the business prospects and future operation of the hotel: