From MergerNetwork.com:
Franchise Hotel & Suites, Niagara Falls, Ontario
Investment Highlights
The hotel is located in Niagara Falls. The Hotel enjoys good visibility and is easily accessible from the major traffic corridors in Niagara Falls.
The hotel is one of the first visible hotels for travelers. The hotel is only five minutes from the new Vegas-style Casino site, and is within a 15-minute walk of the Falls, Skylon and Minolta Towers, Imax Theatre and Casino Niagara. Other nearby attractions includes Queen Victoria Park, Helicopter Rides, and Maid of the Mist Steamboats. Clifton Hill Museums and Attractions, Winter Festival of Lights, Marine land, numerous factory outlets, Butterfly Conservatory, Great Gorge Adventures and the Shaw Festival Theatre.
The hotel is approximately 25 miles (40 kilometers) from the Buffalo International Airport and about 75 miles (120 kilometers) from Pearson international Airport, Toronto.
Reason for Sale: Owners want to go back to home country.
Total revenue $4.6 million — Occupancy 61% — Average room rate $87.
EBIT $1,500,000 — Cap Rate 9.3%
Asking price is $16,000,000
Anyone know which hotel this is?
UPDATE:
Regular reader Dan did some sleuthing and found out it was the Niagara Falls Plaza Hotel. Here is the ad that shows on the Globe and Mail classifieds web site:
