Delta has another location on President Kennedy, so the brand is still present here. Campus Crest, an American private student residence company, purchased the Delta Centre-Ville from a franchisee rather than the chain itself. (The chain actually seemed shocked that this happened)
Hilton wouldn't close the only "Hilton" brand hotel in Montreal, unless a brand new one is built. Is the Hilton Bonaventure a franchise as well? (or a corporate run one?)
Anyways, here's the info on it from when the purchase occured:
Quote:
Campus Crest buys Delta Centre-Ville hotel
U.S. company to convert property into student housing
By Oshrat Carmiel, Bloomberg News July 9, 2013
Campus Crest Communities Inc., a publicly traded owner of U.S. college housing, made its first international acquisition by buying a Montreal property for conversion into a residential tower for students.
In a joint venture with private-equity firm Beaumont Partners SA, Campus Crest acquired the Delta Centre-Ville hotel in downtown Montreal for about $60 million, Chief Executive Officer Ted W. Rollins said. Charlotte, North Carolina-based Campus Crest will have a 20 percent stake in the partnership, which expects to get financing later this year for the redevelopment.
“The numbers are very compelling,” Rollins said in a telephone interview. “There are 80,000 students within walking distance to the property.”
The 33-story property has 711 hotel rooms and is close to McGill University, Concordia University and Ecole de Technologie Superieure, Rollins said. Redeveloped as student housing, the property may have as many as 1,300 beds as well as a library, study rooms and a conference center for university-sponsored events. The conversion is scheduled for completion by the start of the 2014-15 school year.
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http://www.bloomberg.com/news/2013-0...-u-s-deal.html
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