InnVest Hotels Announces Acquisition of 10 Ontario and Halifax Hotels

TORONTO, Jan. 19, 2024 /CNW/ - InnVest Hotels ("InnVest"), Canada's leading hospitality company, is pleased to announce the acquisition of 10 Ontario and Halifax Hotels effective January 18, 2024.  The high-quality 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.  Acquired hotels 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 and The Prince George Halifax.   

This strategic acquisition adds to our existing Greater Toronto Area hotel portfolio and marks our return to the Halifax market.  Many of the hotels will undergo a multi-faceted renovation over the coming years to elevate the guest experience.  

"We are delighted to announce our largest acquisition since 2007 which demonstrates confidence in our vertically integrated hospitality organization and the Canadian hotel market.  We welcome the 766 new team members that have joined our organization." said Lydia Chen, President and CEO of InnVest.    

Aside from the Marriott Toronto Airport, which will continue to be managed by Marriott Hotels, the hotel portfolio will be managed by iHotels.  The acquisition will grow InnVest's Marriott branded franchise and managed portfolio to 14 hotels making us one of the largest owners of the brand in Canada.  

About InnVest Hotels

InnVest Hotels is the leading player in Canada's hospitality industry, specializing in asset management, construction, and hotel operations.  InnVest's extensive portfolio consists of more than 90 hotels, encompassing globally renowned hotel brands.  With our skilled management team overseeing the daily operations of 85 owned and 3^rd party owned hotels, InnVest proudly stands as the largest owner and operator of hotels in Canada. Visit us online for more about InnVest Hotels

SOURCE InnVest Hotels

Jeff Hyslop, Senior Vice President, Asset Management & Investments, Email: [email protected], Website: innvesthotels.com