Calgary Airport Marriott portfolio sold for $66M

TORONTO—Colliers International Hotels announced in mid-January the sale of the 328-room Calgary Airport Marriott portfolio.

TORONTO—Colliers International Hotels announced in mid-January the sale of the 328-room Calgary Airport Marriott portfolio on behalf of The Mitchell Group Alberta Inc. to J.A.R. & Sons Enterprises Ltd., an affiliate of Remai Group. The sale price was $66 million.

The portfolio comprises the recently opened 171-room Courtyard and 157-room Residence Inn by Marriott in a 265,200-square-foot shared building adjacent to the Calgary International Airport, Canada’s third busiest airport. 

According to a release, the portfolio received significant interest from traditional Canadian capital sources, as well as U.S. and international hotel investors seeking exposure to one of North America’s fastest growing markets.