The Halifax-based owner of the Holiday Inn on Joseph Cyr Street has sold the hotel and adjacent properties for a total price tag of $50 million.
Holloway Lodging announced Tuesday it has sold the 261-room Holiday Inn across the way from the St. Laurent Shopping Centre and a stone’s throw from the forthcoming light-rail transit station. Also included in the sale to an unnamed buyer are a neighbouring property occupied by a Lone Star Grill and adjacent vacant land.
Crown Group of Hotels disclosed a few months after the original transaction closed that it was the buyer.
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Borden Ladner Gervais LLP and partners lead with generosity
Borden Ladner Gervais LLP (BLG) are no strangers to supporting charities in the nation’s capital. From the Boys & Girls Club of Ottawa to Crohn’s and Colitis Canada to the
Borden Ladner Gervais LLP and partners lead with generosity
Borden Ladner Gervais LLP (BLG) are no strangers to supporting charities in the nation’s capital. From the Boys & Girls Club of Ottawa to Crohn’s and Colitis Canada to the
Holloway, which owns and operates some 30 hotels across its portfolio, acquired the property in a deal four years ago and subsequently renovated the site to open the Holiday Inn. The company expects to make a gain of $26.3 million on the sale.
In a departure from the hospitality sector, Holloway Lodging is expected to break ground this coming spring on a new five-tower residential development on the same Carling Avenue site as its existing Travelodge Hotel.
