Intelligence
Canada hotels record first occupancy decline in three months
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
News
CFO Capital arranges financing for hotels in Sault Ste. Marie & Calgary
CFO Capital has arranged financing for Delta Hotels by Marriott in Sault Ste. Marie Waterfront, Ont. and the Hampton Inn and Suites by Hilton, Downtown Calgary, Alta.
Hampton Inn and Suites by Hilton, Downtown Calgary, Alta. Render by NORR A&E firm.
On behalf of Sterling Hotels, CFO Capital announced the recent financing for the 129,675 SF, 9-storey, 195-guestroom full-service Delta Hotels by Marriott in Sault Ste. Marie Waterfront, Ont. which is situated on 5.64 acres of land.
This hotel offers 10,436 SF of corporate and banquet space, a full restaurant and bar, covered seasonal patio, a Starbucks, indoor swimming pool, indoor whirlpool, fitness room and 150 parking spaces.
Delta Hotels Sault Ste. Marie Waterfront is situated on the boardwalk, near the city’s business district, and offers a convenient destination for both work and play. Modern, beautifully appointed hotel rooms and suites showcase plush bedding, free Wi-Fi and flat-screen TVs, as well as spacious work desks and room service. Guests can enjoy stunning river vistas and a seasonal outdoor terrace.
Delta Hotels by Marriott in Sault Ste. Marie Waterfront, Ont.
CFO Capital has also arranged construction financing for the 151-guestroom Hampton Inn and Suites by Hilton, Downtown Calgary, Alberta. The 16-storey latest hotel addition to Calgary's core sits on 0.15 acres of land with 27 underground parking. The hotel will feature a lobby workstation, fitness centre, market pantry, guest laundry room and vending areas.
Triple One Properties Limited reportedly identified an opportunity to build a hotel on the unique infill site in downtown Calgary, Alta. to help support densification in the city’s core. The hotel aims to meet the demand for guest accommodations at compelling price points for business and pleasure travellers. The vision was to create a boutique hotel design featuring Kohler-branded guestrooms that would enhance the diversity and vitality in the neighbourhood, a predominant destination for business, retail, entertainment and culture. The 16-story, 150-room hotel will fly the Hampton Inn by Hilton banner and is expected to be completed in 2025.
