Canada: InnVest Hotels, an asset management and construction company, has acquired a portfolio of 10 hotels in Ontario and Halifax, four of which are extended stay.
The portfolio includes a mix of focus service, extended-stay and full-service hotels with 1,737 guestrooms and 40,000 square feet of meeting and convention space.
Hotels within the portfolio include:
• Marriott Toronto Airport
• Courtyard Toronto Airport
• Residence Inn Toronto Airport
• Hotel Carlingview
• Courtyard Vaughan
• Courtyard Markham
• Residence Inn Markham
• Townplace Suites Sudbury
• Cambridge Suites Halifax
• The Prince George Halifax
Many of the hotels will undergo a renovation over the coming years. Aside from the Marriott Toronto Airport which will continue to be managed by Marriott, the portfolio will be managed by iHotels.
Lydia Chen, president and CEO of InnVest Hotels, said: “We are delighted to announce our largest acquisition since 2007 which demonstrates confidence in our vertically integrated hospitality organisation and the Canadian hotel market. We welcome the 766 new team members that have joined our organisation.”
The acquisition will grow InnVest’s Marriott branded franchise and managed portfolio to 14 hotels. It also marks the group’s return to the Halifax market.
InnVest’s total portfolio consists of more than 90 properties in Canada. Other extended stay brands the company manages include Homewood Suites by Hilton.
