- What A regional private investor acquired the hotel in a direct deal
- Why The valuation works out to $214,000/key
- What next The transaction closed on Sept. 25
A regional private investor has acquired the Hilton Garden Inn Niagara-on-the-Lake for $25.2m, Green Street News can reveal.
A private Chinese owner sold the property in a direct deal that closed on Sept. 25. The valuation for the 118-room hotel is $214,000/room.
The hotel is on 4.5 acres at 500 York Road in Niagara-on-the-Lake. Amenities include a restaurant, a fitness centre, an indoor pool and car-charging stations.
On the cusp of Niagara Wine Country, there are more than a dozen wineries within 10 km. Outlet Collection at Niagara and Royal Niagara Golf Club are within 1.5 km, and Niagara Falls, the Shaw Festival Theatre and the U.S. border are within 13 km.
The town of Niagara-on-the-Lake is in southwestern Ontario, 63 km from Hamilton and 51 km from Toronto.
Hilton Garden Inn is a focused-service brand owned by Hilton Worldwide Holdings. As of June 30, Hilton’s portfolio included nearly 8,000 properties in 126 countries. Christopher Nassetta is chief executive of the McLean, Va.-based company.
