HALIFAX — Clarke Inc. has acquired the Stanford Inn & Suites in Grand Prairie, Alta. for $11.6 million. Clarke Inc. is making the acquisition through Holloway Lodging Corporation, marking the fifth hotel owned or managed by Holloway in the Grand Prairie market.
The Stanford Inn & Suites has 206 guestrooms, the majority of which are kitchenette suites. It also features SIPPS Bar and Grill, Monica’s Family Restaurant, a fitness centre, meeting and banquet space and nearly two acres of oversized equipment and truck parking.
This acquisition is a significant milestone, as it is Holloway’s first hospitality acquisition since 2016,” says Tom Casey, CFO of Clarke Inc. and co-president of Holloway Lodging Corporation. “The acquisition was completed at an attractive price and cap rate, and we are optimistic of the synergies available to us given our strong presence in the market. The former ownership group fostered a loyal customer base, and we believe it’s a great fit for our hotel portfolio”.
Additionally, Clarke Inc. has completed renovations at the Sternwheeler Hotel and Conference Centre in Whitehorse, Yukon. The renovation included all guestrooms, common areas, meeting and banquet space and the building’s exterior, as well as environmental heating and cooling improvements.
“The renovation has repositioned the hotel as one of the premiere hotels in Whitehorse,” says Robert Sherman, COO and co-president of Holloway Lodging Corporation. “We are thrilled with the results and cannot wait for our valued guests from across Canada and beyond to experience the beautifully renovated hotel as tourism begins to rebound in Whitehorse.”