Staybridge Suites Oakville
Sales Date: July 2016
Client: InnVest REIT
Buyer: Vrancor Group
Colliers Hotels is pleased to announce the sale of the 105-suite Staybridge Suites Oakville-Burlington on behalf of InnVest REIT to Vrancor Hotels Group Inc.
The Property is well located in the Greater Toronto Area (GTA), just off the QEW at Bronte Road and benefits from easy access to the Highway 400-series and strong nearby demand generators. The Hotel was well received by the investment community during the marketing process given its strategic location, upside operating potential and asset synergies.
The asset was purchased by Vrancor Hotels Group Inc., who also purchased the neighbouring 144-key Holiday Inn Hotel & Suites Oakville at Bronte and Oakville Conference Centre from InnVest REIT in July 2016. Vrancor is a successful Ontario-based owner/developer in Eastern Canada with a collection of 16 hotels.