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Susie Grynol resigns from HAC, appointed VP at Marriott International
The Hotel Association of Canada (HAC) has announced the resignation of Susie Grynol from her position as president and CEO, effective June 3rd, 2024
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CFO Capital arranges construction financing for Holiday Inn Express & Suites Aurora and new Staybridge Suites
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)."
