CNL Hospitality Properties, Inc. (CNL) has announced it has acquired the 607-room Wyndham Montreal from a third-party owner, which has been converted to the Hyatt Regency Montreal.
"CNL has been looking to expand its portfolio outside of the United States, and we are pleased to do so with the acquisition of this exceptional property," said Thomas J. Hutchison III, CEO of CNL Hospitality Properties, Inc. "We are also pleased to continue our relationship with Hyatt Hotels, adding the third quality Hyatt property to our portfolio."
The newly flagged Hyatt Regency Montreal is located in the heart of the city, adjacent to the Le Palais du Congres Convention Centre via an underground passage featuring 120 shops and restaurants. The four star property underwent $25 million in renovations and received the Ulysses Award for the best hotel in Montreal. Amenities include 34,000 square-feet of meeting space, an indoor pool, gym, gardens and Le Cafe Fleuri restaurant.
The hotel is owned by CNL and will be operated by Hyatt Hotels Corporation under a long-term management contract. Hyatt has planned extensive renovations to the property that will begin immediately and proceed over next year focusing on all areas of the hotel, including guest rooms, function space, food and beverage facilities and lobby. One of the most significant changes will be the inclusion of a Regency Club lounge on the 12th floor.
CNL Hospitality Properties, Inc. is an affiliate of CNL Financial Group, Inc., and specializes in the investment of quality hotels and resorts. Through partnering with several top-tier lodging companies, CNL Hospitality Properties, Inc. owns interests in a portfolio of 127 hotels with more than 27,000 rooms in 37 states and Quebec, Canada.