8 August 2017

RobertDouglas Advises Hospitality Resorts on CAD$213 Million Financing for Two Niagara Falls Hotels

RobertDouglas Advises Hospitality Resorts Inc. on a CAD$213 Million Financing for the Hilton Niagara Falls / Fallsview Hotel and Suites in Niagara Falls, Ontario

  • RobertDouglas Advises Hospitality Resorts Inc. on a CAD$213 Million Financing for the Hilton Niagara Falls / Fallsview Hotel and Suites in Niagara Falls, OntarioRobertDouglas Advises Hospitality Resorts Inc. on a CAD$213 Million Financing for the Hilton Niagara Falls / Fallsview Hotel and Suites in Niagara Falls, Ontario

New York, NY -- RobertDouglas announced today that it has advised Hospitality Resorts Inc. on a CAD$213 million refinancing of the 1,006-key Hilton Niagara Falls/Fallsview Hotel and Suites, located in Niagara Falls, Ontario. Hospitality Resorts Inc. is a privately-owned hotel investment, development and management company that has been active in the Niagara hotel and restaurant businesses for more than 40 years. The fixed-rate, fifteen-year financing, one of the largest single hotel financings ever in Canada, was provided by Pacific Life.

The Hilton Fallsview is comprised of three towers, including a 53--story tower completed in 2009, and has 417 luxurious suites, making it one of the largest hotels in Canada, and also among the largest independently-managed Hilton hotels in the world. Connected to the Fallsview Resort, the hotel's over- sized rooms offer spectacular views of the American and Canadian falls, as well as access to a wide array of resort amenities.

The proceeds of the financing will be used to fund significant new improvements to the hotel, including adding 81 new guestrooms, expanding and renovating the lobby, creating an enclosed, roof-top pool with views of the Falls, expanding the restaurant space of the Hotel, adding high-end retail, and helping to underwrite the development of a 5,000 seat theater connected to the Hotel and to the Fallsview Resort.

"The Niagara Falls market has been one of the strongest-performing markets in North America during the past three years," observed David Smith, Director at RobertDouglas, "and the ownership continues to re- invest in the Hilton Fallsview to solidify its position as the market's dominant corporate and leisure property."

"The management team at Hospitality Resorts is committed to making the Hilton Fallsview the heart of a larger entertainment/resort complex. The investments they are making in the Hotel's restaurants, guestrooms, public spaces and, most importantly, the addition of a new theater complex will pay dividends for years to come," remarked Douglas Hercher, Managing Director at RobertDouglas." Ultimately, it was the strength of their ownership and management that made this financing possible."

About RobertDouglas

RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry's pre-eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert- douglas.com or go to www.robert-douglas.com.

Click here to view the original version of this release.


FinanceLodging IndustryReal Estate & InvestmentUSA & CanadaUnited StatesNYNiagara Falls

Request Information

Thank you for your request, we will get back to you as soon as possible.
Close
Please enter your contact details below and we will get back to you with the requested information as soon as possible.
An error occured, please check your input and try again.


CancelSubmit

Newletter

Thank you for subscribing. Your email address has been added to our mailing list.
Close
To subscribe to the HITEC Bytes Newsletter please enter your email address below.
An error occured, please check your input and try again.
CancelSubscribe