TORONTO — During 2017, Colliers International Hotels announced the completion of 30 transactions in 2017, representing over $2.3 billion in deal volume. Here are some of the highlights below.
Rosewood Hotel Georgia, Vancouver, B.C., July 2017
The sale of the historic 156-key Rosewood Hotel Georgia for $145 million set a new price per room sales record in Canada at $929,500 per key. The hotel was sold by Delta Land Development to Vancouver-based Pacific Reach Properties.
Baha Mar Resort, Bahamas, February 2017.
Colliers International Hotels acted as the global marketing, promotion and sale advisor to the Joint Receivers and Managers of the secured assets of the Baha Mar Resort. Chow Tai Fook Enterprises Limited, a Hong Kong-based conglomerate, is scheduled to open the Baha Mar Resort in phases, beginning with a soft opening on April 21st, 2017.
Trump Toronto (future St. Regis), June 2017.
Colliers International Hotels acted as the sole advisor and exclusive agent to JCF Capital ULC in the sale of the tallest luxury hotel in Toronto to InnVest Hotels. The hotel will be rebranded the St. Regis Toronto following significant renovations to the 65-story, 261-room hotel. Prior to the full rebranding, the hotel will run as The Adelaide Hotel Toronto.
Radisson Edmonton South, Alta., Dec. 2017
Colliers International Hotels is pleased to announce it acted on behalf of an affiliate of Silver Hotel Group in the sale of the 235-key Radisson Edmonton South to Nova Hotels Inc.
The hotel is conveniently located just off Hwy 2 (Calgary Trail), one of the City’s highest traffic arteries and a major commuter route for communities south of Edmonton. Edmonton South/Calgary Trail South is characterized by a heavy presence of mixed commercial, retail and entertainment, providing the Hotel with strong nearby demand generators and easy access to downtown, Edmonton International Airport and the Greater Edmonton Area. The Hotel includes a state-of-the-art 30,000 SF conference centre and a well-rounded mix of full-service amenities.
Holiday Inn Express Vancouver Metrotown, B.C., Dec. 2017
Colliers International Hotels acted as the exclusive advisor to Stanley Park Investments Ltd. and its affiliates in the sale of their 100-room Holiday Inn Express Vancouver Metrotown to an affiliate of Anthem Properties.
The hotel is ideally located in the City of Burnaby, which is bordered by Vancouver to its west, Canada’s most sought-after real estate market, and occupies a prime location being directly across from the Metrotown SkyTrain station, with direct access to Metropolis at Metrotown, the largest shopping complex in British Columbia and the third largest mall in Canada.
The offering was highly sought after given the Property's attractive location, proven operational strength and excellent complement of facilities. The Hotel was ultimately sold to an affiliate of Anthem Properties, given the strategic nature of the investment due to their ownership of Station Square. Anthem is a leading real estate development, investment and management company with a substantial portfolio of residential, commercial and land under its umbrella.
Delta Saguenay, Quebec, Sept. 2017
Colliers International Hotels acted as exclusive advisor to Vista Hospitality in the sale of the 155-room Delta Hotels Saguenay Conference Centre to a private investor for $13,325,000.
The hotel is centrally located in the Saguenay Region, easily accessible from Hwy 170, the main east/west thoroughfare in Sagueney and only 2.5 hours from Québec City. The Property features a new restaurant and lounge, modern business and fitness centres, ±21,100 square feet of newly renovated flexible meeting space and revamped lobby and public areas.
Extended Stay Vaughan, Ont. and St. John's, N.L., May 2017
Colliers International Hotels announced the sale of the 189-key Extended Stay Canada Toronto-Vaughan and 93-key Extended Stay Canada St. John’s Downtown to Sunray Group of Hotels.
The hotels benefit from their all-suite product offering with fully-equipped kitchens, specifically catering to long-term stay guests. Each property is well located in their respective markets, surrounded by significant sources of demand. Sunray Group of Hotels (www.sunraygroup.com) purchased the properties as a portfolio in May 2017 and have plans to renovate and explore repositioning/branding strategies.
Radisson Suites Toronto Airport and Quality Inn Airport West, Ont., May 2017
Colliers International Hotels also announced the sale of the 216-key Radisson Suite Hotel Toronto Airport and 108-key Quality Inn Airport West on behalf of Silver Hotel Group to Sunray Group of Hotels.
The properties are strategically positioned moments from the Toronto Pearson International Airport — Canada’s busiest airport. Well located in dynamic corporate nodes, both Hotels are easily accessible to other communities in the GTA, as well as an array of leisure and business demand generators in downtown Toronto.
The properties were sold to Sunray Group of Hotels, adding to their current portfolio of 30 properties across Canada.
Delta Sault Ste. Marie, Ont., May 2017
Colliers International Hotels sold the 195-key Delta Sault Ste. Marie Waterfront Hotel & Conference Centre on behalf of Algoma Central Properties Inc. to a private domestic buyer.
The property is superbly situated in the heart of downtown Sault Ste. Marie and benefits from being the only full-service hotel on the City’s waterfront with an excellent mix of modern amenities including ±12,000 SF of meeting space, an indoor swimming pool, whirlpool and sauna, a restaurant/bar with an expansive outdoor patio, leased fitness centre and spa, and many more.
Algoma Central Corporation operates the largest Canadian flag fleet of dry and liquid bulk carriers on the Great Lakes – St. Lawrence Waterway, and the Hotel sale was part of the company's new strategic objective to dispose of its real estate holdings.
Other 2017 Colliers deals included: Holiday Inn Express Toronto East, Ont., Aug. 2017; Holiday Inn Express & Suites, Orleans, Que., June 2017; Briars Resort and Spa, Ont., May 2017; and Days Inn Grande Cache, Alta., April 2017.