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Announced

Completed

InnVest Hotels completed the acquisition of 10 Ontario and Halifax hotels from Morguard for $410m.

Financials

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Transaction Value£324m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Canada

hotels

Acquisition

Completed

Friendly

Single Bidder

Hotels and Motels

Majority

Private

Domestic

Synopsis

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InnVest Hotels, a hospitality company, completed the acquisition of 10 Ontario and Halifax hotels from Morguard, a Canadian real estate company, for $410m. “We are delighted to announce our largest acquisition since 2007 which demonstrates confidence in our vertically integrated hospitality organization and the Canadian hotel market. We welcome the 766 new team members that have joined our organization,” Lydia Chen, InnVest President and CEO.

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