TORONTO—The 220-room Holiday Inn & Suites Ottawa long-term stay hotel has been sold on behalf of a private investor to an affiliate of Campus Suites and will be rebranded to a university student residence and renamed 1eleven Cooper. The purchase price wasn't disclosed.
Plans call for an update of bedrooms—replacing carpet with hardwood floors; painting walls; modernizing fixtures; adding privacy partitions, where warranted—an update of the fitness room, business centre and communal spaces; an update of furniture throughout; and the addition of a coffee shop operated by a third party, Henry Morton, president of Campus Suites, told CLN.
In addition, three hotel rooms that had been converted to conference rooms will be converted back to student rooms, bringing the eventual room count to 223, he said.
Morton expects the refresh to be completed by March, 2015, targeting a May, 2015 occupancy.
Handling the sale was Cushman & Wakefield Ltd. Brokerage.