According to CBC News, the city of Calgary has announced its plans to convert three downtown towers into residential housing and hotel units.
Victoria Inn Hotel & Convention Centre Thunder Bay acquired by Naagaaniiyang Limited Partnership
Colliers Hotels acted as exclusive advisors in the sale by Genesis Hospitality to Naagaaniiyang Limited Partnership.
The Victoria Inn Thunder Bay has been purchased by Naagaaniiyang Limited Partnership (NLP). The NLP unit holders consist of Michipicoten First Nation, Naicatchewenin First Nation, David Morris, Dean Bethune and others. Both Michipicoten and Naicatchewenin First Nations are the majority unit holders of the partnership. David Morris had existing business with both Nations and that relationship led to the successful assembly of the unit holder group and the acquisition of the hotel.
The Victoria Inn Thunder Bay is a 182-room full-service hotel located on Robinson-Superior Treaty lands in the city of Thunder Bay, Ontario. The property is a cornerstone of the Thunder Bay and Northern Ontario communities and proudly serves many guests from all over Central Canada including guests from Treaties 3, 5, 9, as well as Robinson and Williams treaty lands.
A spokesperson for NLP said that the partners are "excited to continue the legacy started by the previous owners, Genesis Hospitality, of providing genuine hospitality to all its guests for many years to come...On behalf of David Morris, Nigel Lucas and Eric Spindler as well as all NLP unit holders, NLP would like to thank many important partners for helping make the acquisition a reality including Colliers International, Globex Management, Genesis Hospitality and Sunrise Credit Union."
CFO Capital arranged the recent acquisition financing for The Victoria Inn Thunder Bay.