FlyerTalk Forums - View Single Post - IC agrees to sell 13 hotels in US & Canada for $425MM
Old Dec 17, 2004 | 8:27 am
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Would be IC Bloor Street in Toronto as the newly rebranded IC Centre has almost 600 rooms and suites. I guess the execs are now releasing the pent up value of IC's assets having bought the hotel group from the interim investor group that bought it from BASS a couple of years ago. No need to hold onto real estate, when management contracts can be far more lucrative and the asset sale can pay down acquisition debt.
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