Ottawa Marriott Hotel Downtown
Sales Date: February 2016
Price: $115,000,000
Client: Private Investor
Buyer: InnVest REIT
Cap Rate: 6.5%
The Ottawa Marriott Hotel is a premier full-service, upper upscale hotel located in the centre of downtown Ottawa. The Hotel has 489 guest rooms, ±35,000 square feet of function space in 22 rooms including a revolving rooftop function facility. In addition, the Property includes a 130-seat restaurant, and best-in-class guest amenities including an indoor heated pool and sauna, fitness club, business centre and lobby market. Adding to its central business district and Parliament district access, the Ottawa Marriott Hotel will have a direct connection to the new Confederation Line Light Rail Transit (LRT) network anticipated to be completed in 2018. The Property has been well maintained and has undergone significant renovations and upgrades over the last five years.