Sukhdev Toor, Manga Hotels, and a family vision for the future
FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
CFO Capital previously arranged the construction financing for the 110-key Holiday Inn Express & Suites, Aurora in 2018 for a prominent industrial developer entering the hotel space and recently arranged long-term financing as the hotel’s performance continues to exceed expectations.
CFO is also now arranging construction financing for a new 125-key Staybridge Suites, an IHG Hotel next door.
According to Mark Kay, president, CFO Capital: "The demand for hotel construction has returned, with more projects underway than 2019. We are seeing higher demand for new hotel construction across Canada than 2019, with 50 per cent new entrants to the hotel market versus existing hoteliers. Construction budgets are equated to “complete values” making the projects economically viable (with some exceptions in core urban markets)."
FEATURE PROFILE: Feature from the FALL 2024 ISSUE of STAY Magazine
On October 29th and 30th, the 2024 Western Canadian Lodging Conference (WCLC) took place at the Hyatt Regency, Vancouver, B.C., bringing together over 300 hospitality leaders and stakeholders from across the industry to…
The latest Lodging Econometrics (LE) data from Q3 2024 reveals unprecedented growth in Canada's hotel development pipeline, with key indicators suggesting an expansion phase is underway. The total pipeline has reached a…
Holiday Inn & Suites Parkway Conference Centre, St. Catharines, Ont. held a grand re-opening after its renovations—now double-branded with the addition of Staybridge Suites for extended stays.