Morguard's Big Move: A $410M Hotel Portfolio Sale Across Prime Canadian Locations

Morguard's Big Move: A $410M Hotel Portfolio Sale Across Prime Canadian Locations

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 Divestment
The 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.

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Diverse Portfolio in Prime Locations
The 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 Properties
Despite 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 Perspective
Morguard 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.

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Financial Strategy and Closing Conditions
Chief 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.


Clarks Exotica Brings Guest Stories to Life with Personalised Hospitality

Clarks Exotica Brings Guest Stories to Life with Personalised Hospitality

By Manu Vardhan Kannan

Published on July 22, 2025

Nestled just minutes away from Bengaluru’s Kempegowda International Airport, Clarks Exotica Convention Resort & Spa is embracing a fresh and personal approach to luxury. Spread over 70 acres, the resort has always been known for its peaceful ambiance and versatile offerings, from corporate stays to weekend family escapes. But now, it’s taking things a notch higher by focusing not just on what it offers, but how it’s experienced  with every guest story at the heart of it.

“Every guest carries a unique story,” says Varun Sharma, General Manager Operations at Clarks Exotica. “Our aim isn’t just to serve, but to observe, listen, and respond, so each stay feels tailored, like it was made just for them.”

Whether it’s a warm bowl of soup waiting for a late-arriving traveller or a poolside candlelight dinner set up for an anniversary couple, Clarks is turning small gestures into unforgettable memories.

This new approach isn’t just reflected in their service, it’s shaping how the brand communicates with the world. Clarks Exotica is moving away from generic promotions, instead sharing stories drawn from real, heartfelt guest moments. The idea is to make every piece of communication, whether online or on-site, feel genuine and personal.

Behind this shift is a team that values human touch. From Shiva in Engineering, who ensures every space is flawless without being seen, to Gautam from F&B, who remembers how guests like their coffee, it’s the quiet attentiveness that defines the Clarks culture.

These real moments and real people now take centre stage in the resort’s digital storytelling. With initiatives like:

  • Video reels capturing natural guest reactions and joyful moments with family

  • Team spotlights celebrating small yet meaningful acts of service

  • Social media campaigns like "Captured at Clarks" and "Humans of Clarks", showcasing authentic experiences

Clarks is turning its guestbook into a canvas of shared memories. What used to stay within four walls now reaches a wider, global audience, building not just loyalty, but an emotional connect that sets the brand apart.

With this shift, Clarks Exotica is showing that luxury isn’t always about extravagance. Sometimes, it’s in the little things, the ones that make you feel seen, remembered, and valued.


The LaLiT Suri Hospitality Group Launches Purpose-Driven Loyalty Program

The LaLiT Suri Hospitality Group Launches Purpose-Driven Loyalty Program

By Nishang Narayan

Published on July 22, 2025

The LaLiT Suri Hospitality Group, one of India’s most admired luxury hospitality brands, has unveiled its all-new loyalty program – The LaLiT Loyalty Program – that’s as rewarding as it is purposeful.

Designed to deepen the relationship with guests, this loyalty initiative combines classic perks with a unique opportunity to make a real-world impact. With four distinct tiers – Blue, Silver, Gold and Platinum – the program gives members the freedom to earn points for every rupee spent across stays, dining, and wellness services at The LaLiT’s hotels, palaces, and resorts. From enjoying a lavish meal at Baluchi or OKO, to unwinding at Spiceology, guests can now collect rewards seamlessly.

But the real differentiator is its conscious core. In a first-of-its-kind move, The LaLiT has partnered with Points for Good, a platform that enables guests to donate their points to causes that matter. With over 18 NGOs and 40 vetted projects to support – including child education, LGBTQIA+ rights, environmental sustainability, and more – this program invites travellers to become changemakers.

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“At The LaLiT, we believe hospitality is not just about service – it’s about building meaningful relationships. The LaLiT Loyalty Program is our way of showing gratitude to our guests and building a deeper, more meaningful connection with them. It’s a celebration of trust, shared values and mutual expectations,” said Dr. Jyotsna Suri, Chairperson & Managing Director, The LaLiT Suri Hospitality Group.

By blending rewards with responsibility, The LaLiT Loyalty Program offers more than points – it offers purpose. Whether you're a frequent traveller, a fine-dining enthusiast, or simply someone who values mindful luxury, this program welcomes you to indulge while making a difference.

Enrolment is free and can be done instantly at www.thelalitloyalty.com.


LaRiSa Hotels Expands in Himachal with New Resort in Palampur

LaRiSa Hotels Expands in Himachal with New Resort in Palampur

By Nishang Narayan

Published on July 20, 2025

LaRiSa Hotels and Resorts has signed a hotel management agreement for a new resort in Palampur, Himachal Pradesh. Scheduled to open in early 2026, this will be LaRiSa’s fifth property in the state and marks a significant step in the brand’s regional growth strategy.

Developed in collaboration with Grassmere Resorts, the upcoming resort spans 2.5 acres in the scenic Kangra Valley. It will feature 20 rooms and suites, each offering private balconies with views of either Palampur city or the majestic Dhauladhar range. Room sizes will range between 400 and 850 sq. ft.

The property will be equipped with an infinity pool overlooking the Himalayas, a spa with therapy rooms and steam facilities, and curated farm-to-table culinary experiences. Landscaped gardens, a fruit and herb garden, and a peaceful fish pond will further enhance the tranquil vibe of the retreat.

“Palampur in Kangra Valley is witnessing a notable surge in tourism,” said Priya Thakur, Director, LaRiSa Hotels and Resorts. “With the signing of LaRiSa Resort, Palampur, we are strengthening our offering in Himachal Pradesh through this collaboration with the Sandhu family.”

Achint Kaur Sandhu, Partner at Grassmere Resorts, added, “With this partnership we hope to cater to travellers seeking a premium stay experience that has been lacking in this destination.”

Strategically located, the resort will offer easy access to popular attractions such as Neugal Khad, Andretta Artist Village, Saurabh Van Vihar, and Tashi Jong Monastery. It is situated 9 km from Palampur Railway Station and 45 km from Kangra Airport, ensuring good connectivity for visitors.

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