Banff International Hotel
Sales Date: March 2012Keys: 162
Price: $23,500,000
Client: Birkenback Holdings Ltd.
Buyer: Viad Corp.
Colliers International Hotels served as exclusive agent and advisor to Birkenback Holdings Ltd. in the sale of the 162-room Banff International Hotel. Colliers conducted an aggressive marketing campaign directed at domestic and international investors and ultimately facilitated the transfer to US-based Viad Corp. (NYSE: VVI).
The offering represented a rare opportunity to acquire a significant hotel in the spectacular natural setting of the Canadian Rockies and was sold unencumbered by brand and management. Well located in the world-class resort town of Banff, the area sees roughly four million visitors each year attracted to the seven national historic sites and abundance of outdoor activities. The transaction represented the only hotel traded to a cross-border buyer in Canada for 2012.
Colliers International Hotels served as exclusive agent and advisor to Birkenback Holdings Ltd. in the sale of the 162-room Banff International Hotel. Colliers conducted an aggressive marketing campaign directed at domestic and international investors and ultimately facilitated the transfer to US-based Viad Corp. (NYSE: VVI).
The offering represented a rare opportunity to acquire a significant hotel in the spectacular natural setting of the Canadian Rockies and was sold unencumbered by brand and management. Well located in the world-class resort town of Banff, the area sees roughly four million visitors each year attracted to the seven national historic sites and abundance of outdoor activities. The transaction represented the only hotel traded to a cross-border buyer in Canada for 2012.
