Date: January 2017
Location: 25 hotels across Canada
Name: SilverBirch Hotels & Resorts
No. of Keys: 6,757
Seller: SilverBirch Hotels & Resorts…British Columbia Investment Management Corp (Pension Fund).
Prior to 1999 they primarily managed third party owned hotels. In early 1999, the hotel management function was bought out by CHIP REIT and CHIP Hospitality was created.
In 2007, the British Columbia Investment Management Corporation acquired and privatised the CHIP REIT and SilverBirch Hotels & Resorts was launched. Jonathan Korol was named President in February 2017, following the sale.
Buyer: Leadon Investment Inc. bought the hotel assets and the management company…The hotel assets include full-service, focused service and extended stay properties that operate under major international franchise brands.
A large part of the portfolio of the hotels are licensed with Marriott International and include 12 Delta by Marriott branded properties.
Not much is known about Leadon other than they are HK based. They were advised by Loeb & Loeb, working with Toronto-based Goodmans.
Price per Key: US$124,789
THPT Comment: Canada is enjoying the same hotel boom as the USA and Europe. Canada-wide, hotel real estate transactions were worth $3.3 billion in 2016. That is 72% more than in 2015.
First Seen: Vancouver Sun