- What A private group based in Niagara Falls acquired the Hyatt Regency Calgary
- Why The 355-room hotel fetched between $120m and $145m
- What next Calgary’s average daily room rates are on the rise
The Hyatt Regency Calgary has sold for at least $120m, Green Street News can reveal.
A private group based in Niagara Falls acquired the hotel from Coril Holdings. CBRE led the deal, which closed in mid-March.
The 355-room hotel fetched between $120m and $145m, or $338,000 to $408,000/room. Exact pricing was unavailable, but market pros say it marks the second-largest hotel trade ever reported in Calgary.
Only the Westin Calgary, which sold for $192m in 2013 and again in 2019 for $145m, has fetched a higher price. Delta Hotels Calgary Downtown, formerly Delta Bow Valley, sold for $120m in 2008.
The Hyatt Regency Calgary was completed in 2008 and renovated in 2018. Hyatt Regency is a full-service brand under the Hyatt Hotels flag.
The hotel has over 34,000 sq ft of meeting and event space, a fitness centre and a pool. Stillwater Spa, Bakers Café and Thomsons Kitchen & Bar are located in the hotel.
At 700 Centre Street SE, the hotel is adjacent to Calgary TELUS Convention Centre, 200 m from Scotia Centre and the Calgary Tower. It is a kilometre from the Scotiabank Saddledome and the Calgary Stampede. Calgary International Airport is 7 km from the hotel.
Average daily room rates in Calgary hit $178 in 2024, CBRE said in a recent report, boosting revenue per available room to $119. The figures are expected to rise to $182 and $122, respectively, in 2025 while occupancy will remain at 67%.
Last year, QuadReal Property sold the Residence Inn Calgary Downtown/Beltline District to Manga Hotel Group for $112.3m, or $288,000/room. InnVest acquired the Banff Inn from Banff Inn Inc. for $43m, or $434,000/room.
Hyatt Hotels’ portfolio includes over 1,300 hotels in more than 70 countries. Thomas Pritzker is executive chair and Mark Hoplamazian is chief executive of the Chicago-based company.
Coril Holdings is a privately owned entity based in Calgary. Its subsidiaries include Triovest Inc. and Triovest Capital. Stephen B Mannix is executive chair.
