The Prince of Wales Hotel in Waterton, Alberta January 7, 2018. Closed for the winter months. It was named the Prince of Wales Hotel to get the then Prince of Wales, later to be known as King Edward VIII, to stay there during a Canadian tour he was on at the time. It did not work. He stayed at a ranch instead. He might have had a better time at the ranch. Waterton can be a very windy place.