TORONTO – 360 VOX Corporation (360 VOX) announced today that 360 VOX Asset Management Inc. (“360 VOX AMI”), a wholly-owned subsidiary of 360 VOX, has entered into a five year asset management agreement (the “Agreement”) for a portfolio of hotels owned by affiliates of Ivanhoe Cambridge.
Under the terms of the agreement, the properties under management by 360 VOX AMI will be the
Fairmont Vancouver (Vancouver, BC), the Fairmont Empress (Victoria, BC), the Fairmont Royal
York (Toronto, Ontario), the Fairmont Château Laurier (Ottawa, Ontario), the Fairmont Queen Elizabeth (Montreal, Quebec), the Fairmont Olympic (Seattle, WA), and the Fairmont Washington, (Washington, DC) (collectively referred to as the “Properties”). 360 VOX AMI will work closely with the owner to manage the Properties with the objective of preserving and maximizing the value of the Properties by providing asset management services and overseeing the construction and renovation projects at the Properties.
Robin Conners, President and Chief Executive Officer, commented, “We are very pleased to have the opportunity to work on this exceptional real estate portfolio. Our integrated capabilities in development, operations and asset management are a perfect fit for the management of these unique hospitality assets”.
360 VOX AMI’s senior management has more than 40 years of experience in managing hospitality properties and have previously managed or advised companies such as Fairmont Hotels and Resorts, Marriott International, Starwood Hotels and Resorts, Carlson Hotels Worldwide, Wyndham Hotels Worldwide, and Renaissance Hotels and Resorts.
On Behalf of the Board of Directors
Robin Conners, President and CEO
About 360 VOX Corporation 360 VOX Corporation (or the Company) is a publicly traded company, incorporated under the laws of Ontario and listed on the TSX Venture Exchange under the symbol “VOX”. The Company is engaged in the business of developing and managing international hotel, resort, residential and commercial properties through its wholly-owned subsidiary, 360 VOX Developments Inc. and 360 VOX Asset Management Inc.; and in Cuba through its wholly owned subsidiary, Wilton Properties Ltd., in joint venture with Grupo Hotelero Gran Caribe S.A., an agency of the Cuban government.
For further information on the Company please visit our website at www.360vox.com. The Company’s public filings, including its most recent audited consolidated financial statements, can be reviewed on the SEDAR website (www.sedar.com).
This news release may contain forward-looking statements and information within the meaning of applicable securities legislation. These statements reflect management’s current expectations, estimates, projections, beliefs and assumptions that were made using information currently available to management. In some cases, forward-looking statements can be identified by terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “forecast”, “outlook”, “potential”, “continue”, “should”, “likely” or the negative of these terms or other comparable terminology. In particular, forward-looking statements include statements regarding payment of fees are based on assumptions that management believe are reasonable. These statements are not guarantees of future results and are subject to numerous risks and uncertainties, including the Company’s decision on whether to continue with certain projects; and the availability of capital to finance growth of the projects; adverse factors generally encountered in the hospitality industry; the risks associated with world events, including war, terrorism, international conflicts, natural disasters and extreme weather conditions; general economic conditions, supply and demand changes for hotel rooms; competitive conditions in the hospitality industry; changes to permitting and entitlements; changes to the hospitality industry and government regulation and currency fluctuations. Although management believes that the anticipated future results, performance or achievements expressed or implied by the forward looking statements and information are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements and information because they involve assumptions, known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from anticipated future results, performance or achievements expressed or implied by such forward-looking statements and information.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
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