A legendary Charlottetown nightclub is being converted into a budget hotel.
Richard Homburg, whose company Dyne Holdings already operates the Holman Grand Hotel, three office towers, and Confederation Court Mall in downtown Charlottetown, completed a purchase Friday of the building that once was Myron's.
"We already have our demolition permits in place and we've already started working on the building and we're working on converting the building into a 105-room hotel," said Dyne Holdings president John Cudmore.
"We think there's room in the marketplace for reasonably-priced accommodations without sacrificing location."
The hotel aims to be open in 2020.
The rooms will be smaller than in a traditional hotel, with more emphasis on public space to encourage people staying there to mingle and socialize. It will be called The Arts Hotel and will have an arts theme. Early plans include a café named in honour of Salvador Dali, which could include Dali paintings from Homburg's personal collection.
The Arts Hotel will target patrons of Airbnb, whom Cudmore feels are seeking less expensive accommodations that are still close to the downtown. Prices will likely be a little over $150 a night in peak season and $99 in the off season with monthly rentals available.
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With files from Stephanie Kelly