- What Vrancor Group acquired the Niagara Falls hotel
- Why Benderson Development sold the 232-room asset for $276,000/room
- What next The new owners will relaunch the property under IHG Hotels & Resort’s Voco brand
Vrancor Group has acquired the Radisson Hotel & Suites Fallsview for $64m, Green Street News can reveal.
Benderson Development sold the 232-room hotel, in Niagara Falls, Ont., for $276,000/room. Colliers brokered the deal, which closed on Dec. 18.
The purchaser plans to undertake a comprehensive renovation of the hotel and relaunch it under IHG Hotels & Resort’s Voco flag. The premium brand is focused on conversions.
At 6733 Fallsview Boulevard, the hotel has two restaurants, which are leased to Outback Steakhouse and Turtle Jack’s Muskoka Grill.
The 2-acre site is less than 1 km from Horseshoe Falls, Fallsview Casino and the Niagara Falls Convention Centre. Rainbow International Bridge is within 2 km.
Vrancour Group is a hospitality-development and property-management company based in Hamilton. Darko Vranich is president and chief executive.
Benderson Development is a private real estate company headquartered in University Park, Fla. Randy Benderson is president.
