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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 June 24, 2026
The Forum Hotel & Convention Centre marked International Yoga Day with a thoughtfully curated wellness initiative that brought together guests, wellness enthusiasts, and hotel associates for a morning dedicated to mindfulness and holistic wellbeing in Ahmedabad.
The event featured a guided yoga and meditation session designed to encourage participants to slow down, reconnect with themselves, and embrace balance in an increasingly fast-paced lifestyle. Attendees from different age groups took part in yoga asanas, breathwork exercises, and mindfulness practices in a calm and energising environment.
Positioned as a community-focused initiative, the celebration reflected the growing importance of wellness in modern hospitality experiences. The session aimed to create a shared space where participants could prioritise both physical and mental wellbeing while taking a conscious break from daily routines.
Speaking about the initiative, Kalpesh Prajapati, Managing Director of The Forum Hotel & Convention Centre, highlighted that wellness has evolved from being an occasional luxury to an essential part of contemporary living and travel. He emphasised the hotel’s commitment to creating experiences that promote mindfulness, balance, and overall wellbeing within the community.
As wellness continues to shape the hospitality landscape, The Forum Hotel & Convention Centre has been focusing on experiences that extend beyond accommodation and events, encouraging meaningful engagement with both guests and the wider Ahmedabad community.
The International Yoga Day celebration concluded with healthy refreshments and informal interactions among participants, reinforcing the importance of conscious living and collective wellbeing.
By Manu Vardhan Kannan
Published on June 23, 2026
The Leela Gandhinagar celebrated International Yoga Day with a thoughtfully curated wellness experience that encouraged guests to slow down, reconnect, and embrace a more mindful way of living. Inspired by Aujasya by The Leela, the brand's philosophy centred on vitality, balance, and mindful living, the event brought together guests, wellness enthusiasts, and hotel associates for a morning dedicated to holistic wellbeing.
Hosted within the serene surroundings of the hotel, the programme went beyond physical exercise to focus on mindfulness and self-awareness. Participants took part in guided yoga sessions, mindful breathing exercises, and moments of quiet reflection, creating an environment that encouraged relaxation and inner balance.
The experience was designed around the belief that true wellbeing is built through meaningful and enriching moments. As the session concluded, guests were invited to continue their wellness journey with an Aujasya-inspired breakfast featuring wholesome dishes, fresh fruits, herbal infusions, and nutritious selections curated to complement the spirit of the occasion.
The event reflected the holistic wellness approach of Aujasya, where movement, nourishment, and mindfulness come together to promote renewal and personal wellbeing. Through the experience, participants were encouraged to pause from their daily routines, recharge, and adopt a more balanced lifestyle.
Commenting on the occasion, Vikas Sood, General Manager, The Leela Gandhinagar, said, “Wellbeing is increasingly becoming an essential part of how people choose to live, travel, and engage with the world around them. Through Aujasya-inspired experiences, we aim to create meaningful opportunities that encourage balance, mindfulness, and a sense of inner renewal. International Yoga Day offered a wonderful occasion to celebrate this philosophy and share it with our guests and associates.”
As wellness continues to play a growing role in luxury hospitality, The Leela Gandhinagar remains focused on creating experiences that blend authentic hospitality with mindful living. Guided by the principles of Aujasya, the hotel continues to offer opportunities for guests to reconnect with themselves through thoughtful and restorative experiences.
More than a celebration of yoga, the event served as a reminder of the importance of mindfulness, nourishment, and inner balance in creating a healthier and more fulfilling way of life.
ITC Maurya celebrated International Yoga Day 2026 with a dedicated wellness session at Nandiya Garden, embracing this year's theme, "Yoga for Healthy Ageing." The event brought together wellness enthusiasts and influencers for a morning focused on physical health, mental well-being, and mindful living.
The programme began with a guided yoga session conducted by a certified instructor. Designed to support overall wellness, the session highlighted the role of yoga in maintaining physical vitality, improving mental balance, and encouraging long-term healthy living.
Following the yoga session, participants were treated to a selection of nutritious and wholesome refreshments that complemented the event's focus on wellness and conscious lifestyle choices.
The initiative reflected ITC Hotels' commitment to Responsible Luxury by encouraging guests to adopt healthier habits and prioritise self-care in their daily lives. Through activities centred on holistic well-being, the hotel reinforced the importance of maintaining a balanced lifestyle while making mindful and sustainable choices.
By aligning with the global celebration of International Yoga Day, ITC Maurya highlighted the growing relevance of wellness practices in supporting healthy ageing and enhancing overall quality of life.
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