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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
