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Sale of The Toronto Area Marriott Select-Service Portfolio

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The Toronto Area Marriott Select-Service Portfolio

Sales Date: October 2011
Keys: 495
Price: $48,000,000
Client: Concord Hospitality Enterprises JV Lubert Adler Real Estate Funds
Buyer: Genesis Hospitality

Colliers International Hotels acted as joint advisor to Concord Hospitality Enterprises & Lubert Adler Real Estate Funds in the sale of the 495-room Toronto Area Marriott Select Service Portfolio to Genesis Hospitality Inc. The properties included the Courtyard Toronto Airport Corporate Centre West, Residence Inn Toronto Airport Corporate Centre West, Residence Inn Toronto Vaughan and Courtyard Hamilton.

The Portfolio received significant interest from traditional Canadian capital sources, as well as US and international hotel investors seeking critical mass in and around the highly sought after Greater Toronto Area. The Hotel’s offered strong financial performance, best-in-class branding and outstanding locations in their respective competitive markets. The sale marked the highest price per room on record achieved for comparable select-service product in Eastern Canada.

Pour plus d’informations, veuillez contacter:

Fraser Macdonald

Senior Analyst | Hotels

Toronto Downtown

In his position as Senior Analyst, Fraser works closely with the national hotel brokerage team with a focus on financial underwriting, hotel valuations, proposal development and marketing activities.  Fraser provides customized research and analysis for clients on trends influencing lodging investment in Canada and leads production of Colliers’ hotel research including the Hotel INNvestment Canada quarterly report and Canadian Hotel Investment Report.  Fraser has been involved in more than $3 billion of lodging transactions across Canada and the Caribbean since joining Colliers in 2013.

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