MISSISSAUGA, Ont. — Morguard Corporation has acquired five hotels in the Greater Toronto Area (GTA), including three Courtyard by Marriott properties and two Residence Inn by Marriott properties for $70.5 million.

The five acquired properties, which are located in Mississauga, Markham and Vaughan, comprise 632 guestrooms and 4,155 sq. ft. of function space.

The hotels will continue to be managed by the U.S.-based Concord Hospitality Enterprises Company.


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