Hong Kong investor buys Canadian hotel portfolio
Leadon Investment, a private investor group with ties to Hong Kong, has acquired SilverBirch Hotels & Resorts from British Columbia Investment Management Corp. for $843.2 million.
SilverBirch Hotels & Resorts is a 25-property hotel portfolio with 6,757 rooms located across Canada’s 20 largest cities. The company manages hotels operating under franchise brands, including Marriott, Hilton and Radisson, among others. The hotels include Delta hotels in Toronto, Calgary, Victoria and Halifax.
Chinese investors have been active investors in foreign real estate, especially in the hospitality sector. China hit a record of $33 billion in overseas commercial and residential property investment in 2016, an increase of nearly 53 percent year-on-year, according to JLL’s Global