- What Canada Western Bank has financed a portfolio of 10 hotels
- Why The funding backed the purchase of the Motel 6 Kingston in Kingston, Ontario, and replaced existing debt
- What next The financing also includes a facility to support future growth and capex
Canada Western Bank has financed a portfolio of 10 hotels owned by Sterling Hotels Canada, STAY Canadian Hotel Intelligence reported.
The funding backed the purchase of the Motel 6 Kingston in Kingston, Ontario, and replaced existing debt. It also included a fully funded equity out facility that will be used for future growth and capex.
The 10 hotels are:
- Comfort Suites Downtown Montreal, at 1214 Crescent Street, Montreal
- Howard Johnson Toronto Lakeshore, at 14 Roncesvalles Avenue King Street West and Queensway, Toronto
- Econo Lodge Smiths Falls, at 33 Centre Street, Smiths Falls, Ontario
- Motel 6 Kingston, at 1542 Robinson Court, Kingston
- Saint James Hotel Toronto, at 26 Gerrard Street East, Toronto
- Hampton Inn Napanee, at 40 McPherson Dr, Napanee, Ontario
- Grange Hotel Toronto, at 165 Grange Avenue, Toronto, Ontario
- Motel 6 Sault Ste Marie, at 503 Trunk Road, Sault Ste. Marie, Ontario
- Quality Inn Sherbrooke, at 4206 King Street West, Sherbrooke, Quebec
- Grand Tappattoo Resort, at 30 Tapatoo Trail, Seguin, Ontario
