Concord Hospitality Enterprises, the largest operator of Marriott-branded properties in Canada, has sold a portfolio of four hotels to Manitoba-based private investment group Genesis Hospitality.
Under the agreement, Concord will continue to operate the properties.
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In addition, Concord will invest $1m in each of its remaining Ontario hotels, with completion by the end of the first quarter 2012.
The hotels, which were developed by Concord, include the 132-suite Residence Inn by Marriott Toronto Vaughan, the 94-room Courtyard by Marriott Mississauga Airport/Corporate Centre West, the 133-suite Residence Inn Mississauga Airport/Corporate Centre West and the 136-room and suite Courtyard by Marriott Hamilton.
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