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By Author
Published on January 17, 2024
Morguard Corporation, a prominent player in real estate and property management, has struck an unconditional deal to sell a significant portfolio of 14 hotels spread across Canada. This strategic move aligns with Morguard's focus on core sectors such as office, retail, industrial, and multi-suite residential properties.
A Strategic DivestmentThe transaction is expected to rake in gross proceeds of C$410 million ($306.85 million). After repaying a first mortgage debt of C$48.7 million ($36.45 million), the net proceeds for Morguard are estimated to be about C$361.3 million. This sale marks a pivotal shift in Morguard’s asset management strategy.
Diverse Portfolio in Prime LocationsThe portfolio up for sale boasts properties under renowned banners like Hilton, Marriott, and IHG, in addition to independent hotels. These establishments are strategically located in key urban centers, enhancing their appeal and market value. Some of the notable properties include the 144-room Courtyard Marriott Markham, the 144-room Courtyard Marriott Mississauga, and the 115-room Holiday Inn Express in Ottawa.
Morguard Retains Select PropertiesDespite this large-scale divestiture, Morguard is retaining ownership of two properties. These include the dual-branded Hilton Garden Inn and Homewood Suites in Ottawa, Ontario, and the Inn at the Quay in New Westminster, British Columbia. This selective retention underscores Morguard’s nuanced approach to portfolio management.
CEO’s PerspectiveMorguard Corporation CEO and Chairman, K. Rai Sahi, expressed that the timing is opportune for this divestment, given the current market demand and the enhanced market value of these properties. He emphasized that this strategic decision is aimed at reinforcing the company's balance sheet and maintaining a high-quality portfolio of income-producing real estate.
Financial Strategy and Closing ConditionsChief Financial Officer Paul Miatello highlighted the transaction’s role in providing Morguard with heightened financial flexibility. This is especially crucial in the current context of fluctuating interest rates. The completion of this transaction is contingent upon standard closing conditions and is expected to finalize in the first quarter of 2024.
Morguard’s decision to sell its 14-property hotel portfolio represents a significant realignment of its investment focus. By capitalising on the current market dynamics, Morguard is poised to strengthen its financial position and concentrate on its core real estate sectors, ensuring sustainable growth and profitability in the years ahead.
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By Hariharan U
Published on March 25, 2026
Brigade Hotel Ventures (BHVL), the hospitality division of the Brigade Group, is planning to expand its presence beyond South India, with a focus on spiritual and leisure destinations in the north and west.
The company is currently exploring new locations including Goa and Mumbai in the west, along with Varanasi, Rishikesh, and Ayodhya in the north. These destinations are being considered as part of the company’s strategy to tap into growing demand for spiritual tourism and leisure travel.
"We are looking at Goa and Mumbai in the western region. In north India, we are looking at Varanasi and Rishikesh. Of course, Ayodhya as well in the long term," said Vineet Verma. He added that the upcoming properties will vary between four-star and five-star formats, depending on the location.
Along with new developments, BHVL is also considering acquisitions to speed up its growth. The company is open to taking over operational hotels and upgrading them, allowing for quicker entry into new markets compared to building properties from scratch.
At present, BHVL operates nine hotels across key cities such as Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, with a total inventory of over 1,600 keys.
The company also has a strong pipeline in the south, with nine new properties planned across locations including ECR and OMR in Chennai, Hyderabad, and Thiruvananthapuram. These developments are expected to add around 1,700 keys over the next few years.
BHVL is investing over Rs 3,000 crore into its expansion plans and aims to significantly scale up its portfolio. Having built over 1,600 keys over the past several years, the company now plans to double that number within a shorter timeframe as it accelerates growth across new and existing markets.
Kota is better known for its coaching institutes and industrial output than its hospitality scene, but Wyndham Hotels is clearly looking at the city with a longer lens. The brand has signed the Ramada Resort by Wyndham Talera Kota with promoter Lalit Singh Muktawat, marking a meaningful addition to Rajasthan's hospitality map and a deliberate step into India's tier-2 growth markets.
The 200-room resort is scheduled to open in March 2029 and will be strategically located along the riverfront in Kota, catering to corporate, leisure, and group demand from a city that is increasingly attracting both. Kota's identity as one of India's leading educational hubs brings a steady stream of students, parents, and educators through the city year-round. Its industrial base, spanning chemical, cement, engineering, and power sectors, adds a strong corporate travel dimension. Together, these drivers create a more compelling demand picture than the city's relatively underdeveloped hospitality infrastructure currently reflects.
The property's location also benefits from improving connectivity. Kota is situated approximately 10 kilometres from the proposed Kota Airport, which is expected to link the city to major domestic and international destinations and significantly boost both business and leisure arrivals once operational.
Beyond business, Kota has a cultural heritage worth noting. Medieval forts, palaces, havelis, and stepwells draw visitors from across the country, positioning the city as more than just a transit or study destination.
When complete, the resort will offer 200 guest rooms including villas, an all-day dining restaurant, bar, extensive meeting and event facilities, large banqueting spaces, a fitness centre, swimming pool, spa, and dedicated recreational areas. It's a well-rounded offering that covers the full range of demand segments the city attracts.
Lalit Singh Muktawat, promoter of the project, spoke about what the partnership means for the region. "We are proud to partner with Wyndham Hotels and Resorts to introduce the globally recognised Ramada Resort brand to Kota. As the city continues to expand economically and attract increasing numbers of visitors, we believe this development will elevate the hospitality offering in the region and contribute meaningfully to its long-term tourism and infrastructure growth."
Rahool Macarius, Market Managing Director, Eurasia at Wyndham Hotels and Resorts, added context on the strategic thinking. "With Kota emerging as a prominent commercial and educational center in Rajasthan, we are pleased to strengthen our presence in the region with a globally recognised and trusted brand. By focusing on tier-2 and tier-3 cities, we aim to tap into new growth opportunities and cater to the evolving preferences of guests across India's rapidly expanding markets."
For Wyndham, the Kota signing is part of a broader and consistent strategy of identifying Indian cities where demand is growing faster than quality supply, and planting a flag early. Kota fits that profile well.
Indian Hotels Company (IHCL), one of India’s leading hospitality groups, continues to strengthen its focus on sustainability and community impact through Paathya, its ESG+ framework.
Marking four years of this initiative, IHCL hosted the Bharat EkSaath Walkathon – Tamil Nadu edition, a 3-km walk that brought together associates, their families, partners, vendors, and members of the local community. The event was part of a larger global effort, held across multiple countries and locations at the same time, highlighting a shared commitment to responsible tourism.
The walkathon also contributed to a larger cause, with funds raised going towards the Taj Public Service Welfare Trust, further strengthening IHCL’s ongoing social impact efforts.
Teams from several IHCL properties across Tamil Nadu participated in the initiative, including Taj Coromandel, Taj Connemara, Taj Club House, Taj Fisherman’s Cove Resort & Spa Chennai, Taj Wellington Mews Chennai, Vivanta Chennai IT Expressway, Ginger Chennai (OMR, Vadapalani, IITM), TajSATS, Vivanta Coimbatore, Savoy Ooty – IHCL SeleQtions, Gateway Madurai, and Gateway Coonoor.
The walkathon began at the University of Madras and was flagged off by Dr. S. Armstrong, Vice-Chancellor Convener Committee, and Megalina Iden, DC Traffic - East. Participants followed a scenic route along Madras Beach Road before returning to the university campus.
The event wrapped up on a cheerful note with a breakfast gathering, followed by the distribution of medals and certificates, celebrating participation and the spirit of togetherness.
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