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SKYDOME TABS IMG TO SPUR SUITE SALES; AIR CANADA A FACTOR

          SkyDome's "big sales push" to renew leases on its
     luxury boxes "has turned into an embarrassing bust,"
     according to Tony Van Alphen of the TORONTO STAR, who
     reports that sources say that "only a handful of the 151
     boxholders have renewed leases with about two months left
     before their 10-year term expire."  Van Alphen: "Almost
     everything has gone wrong with the campaign -- the timing,
     the prices and lease terms -- after SkyDome officials
     seriously underestimated competition from the nearby Air
     Canada Centre."  The situation is "so grave" that management
     plans to "cut prices" and has called in IMG to "help revise
     lease terms and benefits in hopes of generating critical
     revenue."  SkyDome President Michael Downey: "The response
     is not what we expected.  Therefore, we've got to repackage
     it."  Downey "would not reveal the size of the price cuts
     but said they would be 'noticeable.'"  Prior to the start of
     the renewal campaign, SkyDome "reduced its expectations" by
     cutting the number of boxes it would sell from 151 to 115
     "because of the effect of the competition."  Downey
     acknowledged that the renewal campaign "has shown the [Air
     Canada Centre] took a lot of money out of the market." 
     Downey: "It's something we knew was there but it's a deeper
     problem than we thought" (TORONTO STAR, 10/22).

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