Concord Hospitality Partners with Select Hotel Group To Acquire 12th Canadian Hotel
KINGSTON, Ontario/RALEIGH, N.C., October 8, 2012—Concord Hospitality Enterprises, one of the top-ranked hotel developer/owner/operators in North America, today announced that it has formed a joint venture with Select Hotel Group to acquire the Four Points by Sheraton Hotel in Kingston, Ontario, Canada. Concord also will assume management of the hotel. The 169-room hotel was developed from the ground up by the Melo Hotel Group on the site of the historic British American Hotel.
The hotel will embark on multi-million dollar refresh to the public areas. The lobby and front desk area will be enhanced with a market place and business center to make the space more interactive and engaging, and the fitness center will triple in size to meet the needs of today’s active travelers.
“With 11 hotels in our portfolio and several others in the pipeline, Concord has been increasingly active in Canada for some time, with a particular emphasis on Ontario,” said Mark Laport, presidentof Concord. “The Melo family and their associates have done a wonderful job developing and operating this hotel. With Concord’s emphasis on quality, intergrity and contributing to the communities in which we operate, this hotel will be an important addition to our Canadian portfolio.”
“Select has made this commitment with Concord because of the strong future we see in Kingston,” said Eric Spindler, managing director of Select Hotel Investment. “Joe Melo and his family have built a great hospitality business here, and we are looking forward to continuing that tradition with Concord.”
“We have been watching the recent trends in both the hospitality business and the Kingston market very closely and believe now is the right time to transition the ownership of this hotel with a hospitality group with a reputation for excellent service,” said Venicio Rebelo, of the, Melo Hotel Group. “Select and Concord fit that bill perfectly.”
Kingston, located on the St. Lawrence River, is a UNESCO world heritage site located midway between Toronto and Montreal. Its waterfront location made it an important military and trade center, and today, the city’s vibrant cultural, historic and dining scenes make it a popular destination for tourists and business travelers visiting the city’s numerous corporate headquarters.
Located at 285 King St. East, the Four Points by Sheraton Kingston is the city’s first 100 percent smoke-free hotel and features 169guest rooms and suites with private balconies overlooking Kingston and Lake Ontario. The hotel also features the popular restaurant, Sizzle on Main. Each room is outfitted with a mini-fridge, microwave, coffee maker and complimentary high speed Internet service. Just steps from Kingston’s many historic sites, the hotel gives visitors easy access to the world-famous 1,000 Islands, Confederation Trolley Tours and much more. Queen’s University, the Royal Military College and Kingston City hall also are nearby.
About Select Hotel Investment
Select Hotel Investment is a specialized hotel investment firm, established by experienced industry professionals, to work with equity partners in selectively acquiring and developing hotels. The company targets a selected class of upscale, focused service properties in Canada with well recognized brands. Select Hotel Investment seeks properties that offer the strength of real estate and the profitability of private equity in an operating business.The firm is unique in Canada in terms of investment strategy and partnership structure. It is led by people with extensive hotel transactional and operating experience. For more information, please go to www.select-hi.com.
About Concord Hospitality
Concord Hospitality Enterprises Company, an award-winning hotel management and development company based in Raleigh, N.C., manages over 85 hotels offering more than 11,500 guest rooms in 22 states and two Canadian provinces. The company operates hotels and resorts under such well-known industry elite brands as Marriott, Hilton, Hyatt, Starwood,and Choice Hotels, as well as select independent boutique hotels. Formed in 1985, Concord recently was listed as one of the nation’s top management companies in the nation by independent sources, and recently won Marriott’s elite Partnership Circle award for the eighth time. Concord properties are some of the most awarded hotels in the country, having won nearly 100 top honors in the past two years alone. For more information, visit www.concordhotels.com.