Holiday Inn Express Hotel & Suites Ottawa West
Sales Date: October 2013
Client: Private Investor
Cap Rate: 10.2%
The 115-room Property is conveniently located in Nepean, a neighbourhood just west of downtown Ottawa, proximate to the Queensway (Highway 417), a major thoroughfare connecting Ottawa west to the downtown core and Montreal, and Highway 416 which provides easy access to Toronto via Highway 401. Hotel amenities include an indoor swimming pool and hot tub, complimentary breakfast bar, fitness centre, free Wi-Fi access, business centre with copy/fax, guest-laundry, and five meeting rooms totalling 4,400 SF. Built in 2010, this limited-service hotel was purchased by Temple Hotels Inc., a real estate investment company listed on the Toronto Stock Exchange (TSX: TPH) with a current portfolio of 23 hotels across Canada. Temple’s acquisition was financed by GE Capital Franchise Finance.