Aimbridge Buys Canadian Condo-Hotel Company
Main Photo: The Grande Rockies Resort
Date: October 2019
Location: Western Canada – Aberta and British Columbia,
Name: Bellstar Hotels & Resorts
No. of Keys: Adds 600 to Aimbridge’s 150,000
Seller: Bellstar, headed up by CEO Dale Hodgson, was founded in 2003.
Buyer: Aimbridge Hospitality’s Canadian affiliate acquired condo-hotel management company Bellstar Hotels & Resorts. The transaction adds seven Canadian properties and more than 600 keys to Aimbridge Hospitality’s portfolio.
Founded in 2003, Bellstar managed luxury destination resorts in western Canada. Its assets consisted of the 104-room Grande Rockies Resort and 154-room Solara Resort & Spa in Canmore, Alberta; the 106-room Glacier Mountaineer Lodge, six-town home Kicking Horse Homes and 40-suite Palliser Lodge in Golden, British Columbia; the 70-room The Royal Kelowna in Kelowna, British Columbia; and the 149-suite The Beach Club Resort in Parksville, British Columbia.
In addition to the seven management agreements, Aimbridge acquired a corporate office in Calgary that currently employs 18 people.
“The acquisition of this robust company and its seven thriving properties is a huge addition to Aimbridge Hospitality’s international portfolio,” Dave Johnson, chairman/CEO at Aimbridge Hospitality, said in a statement. “As we look toward international expansion, we are proud to welcome these properties to our management portfolio and look forward to ongoing success in the Canadian market.”
Aimbridge owns and/or manages approximately 850 hotels with more than 150,000 rooms. A little over a month ago, it revealed it has entered a definitive agreement to merge with Interstate Hotels & Resorts. That transaction is expected to be completed by the end of 2019.
THPT Comment: Good buy for Aimbridge, adding 600 rooms before their merger with Interstate.
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