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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 November 18, 2025
Novotel Mumbai Juhu Beach opened its festive season with its much-awaited annual cake-mixing ceremony, creating a lively afternoon filled with joy, high tea, and seaside celebrations. Held by the poolside, the event brought together guests, families, and culinary enthusiasts for a cherished pre-Christmas ritual that leads into the upcoming Tree Lighting Ceremony and New Year’s Eve festivities.
Set against the scenic backdrop of the sea, the celebration reflected the warm spirit of the season, showcased through the hotel’s popular F&B outlets, The Square, Gadda Da Vida, Sampan, Bageecha, and Péché Mignon. Guests joined hands with the hotel’s culinary team for the traditional cake-mixing ritual, symbolising community, togetherness, and the joy of giving.
The afternoon continued with an elegant seaside high tea featuring a curated selection of savoury bites, sweet treats, and refreshing beverages. The atmosphere carried the perfect blend of warmth and celebration, truly capturing the festive essence of Novotel Mumbai Juhu Beach.
Kunal Shanker, General Manager, Novotel Mumbai Juhu Beach, shared, “Our annual cake-mixing ceremony is a celebration of togetherness and marks the beginning of our festive preparations. It is always heartening to see families, friends, and even first-time participants join hands in this joyous ritual, sharing laughter and creating memories. As these ingredients mature over the coming weeks, they will carry with them the warmth, camaraderie, and festive spirit that define this special time of the year.”
As the ceremony progressed, guests donned chef’s caps, aprons, and gloves, preparing to mix an aromatic blend of premium ingredients such as sultanas, candied ginger, macerated dates, crystallised fruit, and hand-picked nuts. These ingredients were combined with fine spirits to begin the months-long maturation process essential for the hotel’s signature Christmas offerings.
The lively ambience, enhanced by festive melodies and the soothing seaside backdrop, created a memorable experience for every participant. Families and friends came together to enjoy this unique tradition, marking the joyful beginning of the holiday season at Novotel Mumbai Juhu Beach.
Hilton Mumbai International Airport welcomed the festive season with a lively Cake-Mixing Ceremony followed by the hotel’s signature Sunday Brunch. The celebration marked the beginning of the hotel’s festive calendar and brought together media, influencers, key clients, and Hilton Honors members.
Guests took part in the traditional cake-mixing ritual, blending dry fruits, spices, and festive flavours that set the tone for the hotel’s Christmas preparations. The afternoon continued with an indulgent brunch featuring global cuisines, live stations, festive-inspired dishes, and artisanal desserts.
The hotel announced that this was only the start of its festive offerings. Guests can look forward to exclusive staycation and holiday packages, Nikkei Table, a Peruvian culinary experience hosted by Chef Vishag, and a special showcase celebrating the culture of Bengal curated by Chef Ananya Banerjee. The season will also include a Christmas Eve Dinner with classic holiday favourites, a grand Christmas Day Brunch for families, and the Big Bang New Year’s Eve Celebration featuring music, gourmet food, and memorable experiences.
Hilton Mumbai International Airport is set to create a festive season filled with culture, creativity, and unique culinary journeys, bringing a blend of tradition and innovation to its guests. More festive experiences will be announced through December and into the New Year.
Published on November 13, 2025
Clarks Exotica Convention Resort & Spa welcomed the festive season with its much-awaited annual Cake Mixing Ceremony, held at the scenic poolside of the Clubhouse. The cherished tradition brought together guests, residents from Swiss Town, Hollywood Town, and Serene Garden, along with the senior management and resort team, for an evening filled with laughter, warmth, and community joy.
The event began on a grand note with the reveal of specially designed cake-mixing logos, offering a creative glimpse into the resort’s evolving story and setting an air of anticipation for its upcoming chapter. This thoughtful addition added excitement to the evening and reflected the brand’s commitment to innovation and storytelling.
As the music played and festive aromas filled the air, guests joined hands with the Clarks team to mix a rich medley of dry fruits, nuts, and spices, a symbolic gesture of joy, togetherness, and prosperity for the season ahead. The ceremony concluded with a sumptuous poolside spread of snacks and beverages, creating the perfect prelude to the holiday celebrations.
Sharing his thoughts on the occasion, Mr. Balaji M, CEO, Clarks Exotica, said, “At Clarks Exotica, we believe every celebration is an opportunity to create lasting memories. The annual cake mixing reflects the values we hold close, community, warmth, and connection. Seeing our guests, residents, and team members come together in such high spirits reminds us that hospitality is ultimately about people, not places. This event marks not just the start of the festive season, but also a renewed chapter in our brand’s story.”
As the resort prepares to unveil its new brand identity, this year’s cake mixing stood as a symbolic celebration of blending tradition with innovation. With the festive cheer in full swing and an exciting future ahead, Clarks Exotica continues to redefine hospitality through experiences that celebrate togetherness and timeless joy.
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