HALIFAX — Holloway Lodging Corporation has sold its Holiday Inn hotel in Ottawa for $50 million.

The property consists of the hotel, an adjacent property leased to a Lone Star Grill franchise and adjacent vacant land. Holloway acquired the property as part of its acquisition of Royal Host Inc. in 2014.

Holloway estimates it will record a gain-on-sale of approximately $26.3 million in the fourth quarter of 2018 and does not anticipate paying any cash tax on the sale of the property.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.