Skip to content

January 2016: Landmark Fairmont hotels sold to French chain

Chateau Lake Louise and Banff Springs among Fairmont hotels sold in $2.9 billion deal
Chateau Lake Louise
Chateau Lake Louise part of a large hotel portfolio sale
Famous and iconic Fairmont hotel properties, including the Chateau Lake Louise and the Banff Springs in Alberta, the Chateau Laurier in Ottawa and Toronto’s Royal York have been sold as part of an international hotel portfolio deal.
French hotel chain Accor is buying the company that owns Canada's Fairmont chain and luxury hotel lines Raffles and Swissotel in a deal worth about US$2.9 billion US in cash and shares.
Accor is buying the company known as FRHI from joint owners Qatar Investment Authority; King Holding Co., the private investment arm of Saudi Prince Alwaleed Bin Talal; and Oxford Properties Group, the real estate division of OMERS, Ontario's municipal workers pension plan, according to an Accor statement. 
From: CBRE National Apartment Group, Vancouver
Submitted by: CBRE senior vice-president Lance Coulson 
Deal: 528-suite Lougheed Village concrete rental apartment complex in Burnaby that includes 50,000-square feet of retail space on a 7.3-acre site, for Beach Properties of Vancouver to Starlight Investments of Toronto
Price: $160 million
From: NAI Commercial, Vancouver
Agent: Aleem Thaver 
Deal: 144-door Best Western Plus Downtown hotel, Drake Street, Vancouver
Price: $40 million
Agents: Terry Harding, Jackson Tang and Brandon Harding 
Deal: 14,.506-square-foot high-rise mixed use development site, Brentwood area of Burnaby, near SkyTrain
Price: $3.21 million
Deal: 9,858-square-foot site with potential for 27,712 square feet of development, near SkyTrain on Royal Oak Avenue, Burnaby
Price: $2.3 million
Agents: Gary Niesner, Chris Langhaug and Don Macdonald 
Deal: 10,524-square-foot free-standing commercial building, Fraser Highway, downtown City of Langley
Price: $2 million
From: Avison Young, Vancouver
Agents: Rob Greer and Chris Wieser 
Deal: 40-suite concrete high-rise rental apartment, Broughton Street in Vancouver’s West End
Price: $11.6 million
From: HQ Realty, Vancouver
Agents: David Goodman and Mark Goodman 
Deal: 127-suite, three-building apartment complex, Highgate area of Burnaby
Price: $26.9 million (sic)
From: Gaetz Realty Inc., Edmonton
Agent: Bob Gaetz 
Deal: 106 acres of industrial land, highway frontage, in Innisfail, Alberta, to Alco Industries
Price: $1.5 million
From: Extendicare Inc. Toronto
Deal: Acquired two senior living homes in Saskatchewan (Regina and Saskatoon) from Brightwater Senior Living Group
Price: $50 million
Deal: Acquired two senior living homes with 158 suites currently under construction in Moose Jaw and Yorkton
Price: $40.5 million
Recently completed a major commercial real estate deal? Send particulars by email to for a free notice in Done Deals.