- What GVR Holdings has offloaded the Best Western Airdrie
- Why A pair of private buyers acquired the 60-room hotel
- What next Avison Young brokered the deal
The Best Western Airdrie in Airdrie, Alta., has traded for $5.8m, Green Street News can reveal.
Two private individuals active in the hospitality sector purchased the 60-room, full-service hotel from GVR Holdings in a deal brokered by Avison Young. The valuation works out to $96,000/room.
The hotel was completed in 1981 and renovated in 2018, including updates to the lobby and guest rooms. It’s under the Best Western flag and is unencumbered by a management agreement. Labour is not unionized.
Amenities include the Secret Gallery Restaurant, Mojo Billiards Hall and Champions Lounge and Gaming. Champions offers off track betting and has 26 video lottery terminals, which required Alberta Gaming, Liquor and Cannabis to be involved with the deal.
Also called the Airdrie Inn, the property is at 121 Edmonton Trail SE in Airdrie. The city is in the Calgary Metropolitan Area and along the Calgary-Edmonton Corridor.
The hotel is less than 28 km from CrossIron Mills, downtown Calgary, Calgary International Airport and Winsport Arena. Banff, Kananaskis and Canmore are within 110 km.
GVR previously listed the Best Western Airdrie for sale with Colliers, but a deal was not reached.
Best Western is a subsidiary of BWH Hotels, which operates approximately 4,300 hotels in 100 countries.
