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"We want visitors to come here and enjoy it and want to come back," he said.
"In order to do that you have to be fair and competitive."
Rosalind Genge, director of sales and marketing at the Westin Grand Vancouver, said phones were ringing off the hook at that posh hotel after the announcement.
"We will be working very closely with Tourism Vancouver and the industry just to make sure that it is managed properly," she said.
"Right now we are just taking names and phone numbers and creating a callback list."
In Whistler many hotels and accommodation providers have also noticed an increase in interest.
"You had this quiet time then all of a suddenly you had this huge amount inquiries," said Monica Hayes of the Westin Resort and Spa.
"It is such marvelous news after a tough 18 to 20 months with 911, the SARS virus, and then Mad Cow. There were so many negative things that were impacting the industry, so this is just great news."
Real estate is also being impacted.
Phones, which have been quiet for the last few months as buyers and sellers reacted to global economic conditions and waited to find out who would win the Games, are suddenly ringing again.
"We have had quite a few quiet months but the day after (we won) the Olympics we noticed our telephones ringing a lot more," said top real estate agent Maggi Thornhill of Windermere.
However, said Thornhill, its unlikely the prices will go up right away as there are already quite a number of properties on the market.
Intrawests exclusive time-share property At Natures Door looks right out onto the Dave Murray ski run on Whistler, the site of the Olympic downhill.
"A lot of people are selecting (the period) that is going to give you the pick for the Olympic year for the Olympic week," said Ross McCredie, director of sales and marketing for Intrawest.
"A lot have already been sold."
A one tenth time-share has risen in price from $284,900 to $314,000 since the first phase of the deluxe homes went on sale last year.