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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 Manu Vardhan Kannan
Published on February 5, 2025
Royal Orchid Hotels Ltd. (ROHL) has expanded its footprint in Gujarat with the grand opening of Regenta Resort, a five-star luxury retreat near the iconic Statue of Unity in Kevadia. This marks ROHL’s 15th property in the state, reinforcing its commitment to premium hospitality in emerging tourist destinations.
Nestled amidst lush greenery and scenic landscapes, Regenta Resort features 49 elegantly designed accommodations, including spacious suites with private balconies overlooking the mountains and Presidential Villas with private pools and gardens. The resort seamlessly blends classic aesthetics with modern conveniences, ensuring an unparalleled guest experience with ROHL’s signature hospitality.
The resort's culinary excellence is showcased at Vindhychal, its in-house multi-cuisine café, offering a delightful selection of vegetarian dishes from Indian, Continental, Chinese, and local cuisines.
Kevadia has emerged as a prominent tourist hub, primarily due to the Statue of Unity, the world’s tallest statue, dedicated to Sardar Vallabhbhai Patel, India's first Deputy Prime Minister. Beyond this monument, the region is known for its stunning mountain ranges, the Sardar Sarovar Dam, and its tranquil natural beauty, making it a perfect destination for travelers seeking cultural and scenic experiences.
Chander K. Baljee, Chairman and Managing Director of ROHL, expressed his enthusiasm for the launch: “This opening reflects our dedication to expanding in western India and meeting the growing demand for high-end accommodations. The region’s enhanced infrastructure has boosted accessibility, making it a key destination for travelers. We are excited to be part of Gujarat’s vibrant growth story.”
He further emphasized that Gujarat is witnessing a surge in luxury hospitality demand, particularly near the Statue of Unity. Regenta Resort is poised to cater to a broad spectrum of travelers, offering a unique and elevated stay experience.
The resort also boasts over 3,000 sq. ft. of event space, including a stunning 35,000 sq. ft. poolside lawn, making it an ideal venue for weddings, corporate events, and social celebrations. Additional features include a temperature-controlled swimming pool, a modern fitness center, and a curated range of indoor and outdoor activities for all age groups.
Mayursinh Gohil, Managing Director of Vindhychal Resort, highlighted the partnership’s potential: “With ROHL’s strong brand reputation in hospitality, Regenta Resort is set to become a sought-after destination. We are thrilled to collaborate on this venture.”
Royal Orchid Hotels Ltd. is one of India’s fastest-growing hotel chains, operating 110+ properties nationwide across 5-star, 4-star, and resort categories. The brand is recognized for delivering premium hospitality experiences catering to both business and leisure travelers. Listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), ROHL is backed by an independent board of industry leaders.
The Regenta brand, an extension of Royal Orchid Hotels, is designed to offer both affordability and convenience through its various sub-brands: Regenta, Regenta Central, Regenta Resort, Regenta Place, and Regenta Inn. The brand’s vision is to become the preferred choice for global travelers seeking premium yet accessible hospitality experiences.
By Nishang Narayan
Published on February 4, 2025
Schön, a renowned name in premium craftsmanship, has introduced an exquisite collection of decorative glassware designed exclusively for the hospitality industry. Tailored to elevate the ambiance of hotels, resorts, and boutique motels, this collection transforms everyday glassware into artistic statements, setting a new benchmark for elegance in luxury interiors.
Schön’s latest collection is meticulously designed to complement the refined aesthetic of high-end establishments. Each piece in the collection features:✔ Intricate cut patterns and elegant curves✔ Gold leaf, silver accents, and hand-etched motifs✔ Bespoke customization options to reflect brand identity
From fine-dining tables at five-star hotels to intimate lounges and upscale suites, Schön’s glassware merges artistic brilliance with everyday utility, ensuring that every guest experience feels immersive and luxurious.
Understanding the need for distinctive branding in hospitality, Schön offers bespoke customization, allowing establishments to:
Nestled along the serene Ozran Beach in Vagator, ZENO by the Sea has officially opened its doors, redefining seaside luxury with a Santorini-inspired aesthetic fused with Goa’s natural coastal charm. Designed by Tenzin Design Studio, this 10,000 sq. ft. destination is a feast for the senses, offering impeccable architecture, globally inspired cuisine, and a curated cocktail menu, making it a must-visit for food lovers and design enthusiasts alike.
ZENO’s architectural vision takes cues from Santorini’s crisp whites and serene blues, reinterpreted with earthy tones, reclaimed teak, woven rattan, and textured stone inlays, creating a space that harmonizes Cycladic charm with Goa’s coastal beauty. Every design element, from the ocean-facing terrace to the soothing basalt fountain, contributes to an ambiance of relaxed sophistication.
At the heart of ZENO’s offering is a tapas-style menu curated by Celebrity Chef Nishant Chaubey, inspired by his travels across Europe, Southeast Asia, and India. The menu balances comforting classics with bold flavors, featuring standout dishes such as:
Each dish reflects a thoughtful blend of global inspiration and local ingredients, ensuring an unforgettable dining experience.
ZENO’s signature cocktail program elevates the experience, offering inventive drinks crafted to complement the menu’s flavors. Highlights include:
Each cocktail reflects ZENO’s philosophy of blending creativity with authenticity, ensuring every sip is as memorable as the setting.
Speaking on the launch, Zuheb, Zaman, and Amaan, Co-owners of ZENO, shared:“ZENO by the Sea is a seamless blend of architecture, nature, and culinary excellence. Our vision is to offer guests an extraordinary seaside experience where they can unwind and embrace the beauty of Goa while indulging in globally inspired flavors.”
Whether it's sunset cocktails on the terrace, an intimate dinner, or a special celebration, ZENO by the Sea promises an experience where architecture, cuisine, and nature converge beautifully.
Located on Ozran Beach, Vagator, ZENO by the Sea is a premier dining destination that harmonizes sustainability, experiential dining, and global flavors. Designed to offer a refined yet relaxed seaside experience, ZENO invites guests to explore an innovative culinary landscape in the heart of Goa.
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