CBRE Hotels announced a number of hotel sales during the past few months.
CBRE acted as exclusive advisor in the sale of the 57-room Comfort Inn Midtown in Kingston, ON in July. Opened in 1979, this 57-room limited service hotel is located midway between downtown Kingston and Highway 401. The hotel has excellent visibility from Princess Street, one of Kingston’s main thoroughfares leading to the City’s historic downtown waterfront with numerous shops, restaurants, cafes and entertainment venues. The Hotel will continue to operate under the Comfort Inn brand and will be independently managed by the new owner.
In August, the company acted as exclusive advisor to KPMG Inc. in its capacity as court-appointed receiver in the sale of the former Best Days Hotel in Niagara Falls, ON. Opened in the mid-1960s, this 94-room limited service hotel is strategically located facing the Niagara River less than 10 minutes drive from the Fallsview District. The 94-room hotel has a restaurant and lounge with approximate seating for 170 people and interior and exterior entrances for increased versatility, an indoor swimming pool, sauna and hot tub, as well as ample surface parking The hotel was closed at the time of sale and was sold unencumbered of brand and management.
CBRE also acted as exclusive advisor to Campbell Saunders Ltd., in its capacity as court-appointed receiver-manager of Bullet Enterprises Ltd., in the sale of the Super 8 Abbotsford for $12.5 million. The 99-room hotel is located just off the Trans-Canada Highway on Sumas Way, five minutes from Abbotsford’s city centre to the north and the Canada-U.S. border to the south. The property includes meeting space, a breakfast room, fitness centre, swimming pool and waterslide, and extensive parking. The property also includes three free-standing retail units which were fully leased at the time of sale.