Sheraton Centre deal largest Canadian single hotel transaction
TORONTO — In Canada's largest single hotel transaction, CBRE has sold the Sheraton Centre in Toronto for $335 million.
CBRE Hotels was retained by an affiliate of Marriott International Inc., to globally market the
1,372-room, 4-star Sheraton Centre Toronto, the second largest hotel in the country after the Chelsea Toronto.
Built in 1972, the Sheraton Centre is an iconic hotel within Toronto’s financial core with a
direct connection to the world’s largest underground retail system. It is the largest
convention hotel in the city with upwards of 130,000 sq. ft. of function and pre-function space.
Two years ago, the hotel undertook a comprehensive $110
million capital refurbishment program, positioning the property for
immediate rate upside and a return to historically
strong occupancy levels. The hotel was already a leading international upscale brand, and the acquisition by Marriott enabled Sheraton-branded
properties to benefit from over 100 million combined
loyalty members with Marriott Rewards, The Ritz-
Carlton Rewards and Starwood Preferred Guest.
CBRE Hotels brought local market knowledge to
the process, working with the client to convey the
operational and financial metrics of a leasehold
property in the midst of a substantial renovation
against the tremendous opportunity to acquire one
of Toronto’s most significant hotels. With the sales undertaking occurring during Marriott’s
acquisition of Starwood, CBRE worked diligently with
the client to provide meaningful updates to the
investment community to ensure continued deal
Marketing efforts garnered multiple offers, with the
team assisting the client in selecting the strongest offer
in terms of asset purchase, long term management
terms and purchaser’s wherewithal to close.
Marriott Downtown revamp aimed at business travellers
CALGARY — Business meets leisure in the heart of the city at
the Calgary Marriott Downtown. The recently redesigned Marriott hotel features
innovative, business-friendly amenities. Guests can now work, unwind and relax in their
updated suites designed with the business traveller in mind.
Guests can work in comfort in their spacious
accommodations which include work desks with ergonomic chairs, numerous
charging stations, as well as the TED app to help keep your brainstorming ideas
flowing. Close to major businesses in the downtown core, the hotel includes an on-site
The hotel's restaurant, ONE18EMPIRE, includes a stylish whiskey
bar. This year, they have created a Canada 150 signature cocktail, named “The Walter
Stanley” in honor of two legendary Canadians — Walter Chell, who
created the Caesar cocktail and George Stanley, a native Calgarian who
designed the Canadian Flag. The drink boasts a maple syrup and bacon rimmed
Caesar cocktail made with Canadian rye and garnished with a combination of
Canadian inspired bites.
Mobile key and mobile check in/out capabilities allow for quick
access while large, flat-screen TVs offer the
Marriott's MVP, a digital platform that replicates the in-home
entertainment experience seamlessly, with access to Netflix, YouTube
Comfort on the move with 10 hotels in three months
ROCKVILLE, Md. — The Comfort hotel brand continues to show aggressive growth and to showcase the brand's Move to Modern initiative. With 10 new hotel
openings in the last three months, the brand is on track to successfully
execute its strategy of opening one hotel per week in 2017. As part of Choice
Hotels International, Inc., one of the world's largest hotel
companies, the new Comfort properties reflect the brand's transformation and
new design, which includes a refreshed, modern look and feel.
“The Comfort brand
has been reimagined. Our Truly Yours prototype offers a superior level of
accommodations that help drive guest loyalty and a strong return on investment
for franchisees,” said Anne Smith, vice president, brand management
and design, Choice Hotels. “As we rapidly expand, guests are experiencing
the new Comfort, and developers and hoteliers can see the positive
The Truly Yours design
package, which includes a contemporary, welcoming exterior, lobby and guest
rooms, is the cornerstone of the Comfort brand's Move to Modern initiative,
introduced to enhance the brand's existing portfolio of hotels. Move to Modern
is a phased approach, with all public spaces and guest rooms fully renovated
across the brand by the end of 2019.
momentum demonstrates our commitment to have the Comfort brand lead in the
upper midscale segment,” said Brian Quinn, vice president, franchise
development, Choice Hotels. “We don't just look at what our hoteliers need
today, we also consider the long term, always providing franchisees with the
tools to be successful for years to come.”
The recent Comfort hotel
openings are located across the Canada and the U.S.. Here in Canada, the Comfort Inn & Suites in Kemptville,
Ont., which has 74 guest rooms, will open in 2018.
There are more than 1,800
Comfort hotels open across North America.
Le Germain Calgary unveils The Hatstack
CALGARY — Le Germain
Hotel Calgary has unveiled “The Hatstack”, a new public
artwork created by renowned Albertan artist Walter May. The sculpture
permanently graces the exterior entrance of the boutique-hotel on the corner of
9th Avenue and Centre Street SW across from the Calgary Tower.
The cast-bronze and cement freestanding
pillar is comprised of 33 identical stacked modules. When seen from a distance,
the 19 feet tall sculpture displays balance, lightness and rhythm through its
repeated geometric shapes, reminiscent of Constantin Brancusi’s “Endless
Column”, which is considered to be one of the 20th century’s great modernist
“Approaching the work, the solidity
and weight of the modules become more prominent along with the recognition that
they are, in fact, representations of hats stacked brim-to-brim and
crown-to-crown,” says artist Walter May.
The hat-shaped elements are based on
John B. Stetson’s 1865 design for what many consider to be the first mass
produced western hat, known as the “Boss of the Prairies”. With its tall,
rounded crown and flat brim, often creased and shaped by individual owners to
their liking, this hat is now recognized as the ubiquitous western cowboy hat.
“We are delighted to present this
sculpture to both hotel guests and Calgarians,” says Lionel Houliat, general
manager of Le Germain Hotel Calgary. “This collaboration is in perfect
continuity with our ongoing commitment to feature local talents.” Similar
to all Group Germain Hotels in Canada, Le Germain Hotel Calgary is adorned with
original works of art by Canadian artists such as Christian Grandjean and