TORONTO — VM Hotel Acquisition Corp. recently closed its initial public offering Class-A restricted voting units, with aggregate proceeds of US$100,000,000.
“We are excited to make our public-market debut on the Toronto Stock Exchange as we begin our journey of effecting a qualifying acquisition with a focus on hotel and resort properties located in the United States and Canada,” says Ian McAuley, CEO, VM Hotel Acquisition Corp.
VM Hotel Acquisition Corp. is a newly organized special-purpose acquisition corporation formed to “capitalize on this unique economic window” and the “unprecedented acquisition opportunity” it presents. The corporation intends to identify, evaluate and execute an attractive acquisitions by leveraging its network to find one or more attractive investment opportunities. It intends to acquire U.S. or Canadian hotel or resort properties as part of its strategic objective to aggregate a North American portfolio of high-quality hotel and resort properties and/or related assets and businesses.
The corporation further intends to retain institutional world-class hotel operators to leverage their purchasing power, scale and scope of operations in order to optimize the operating performance of any acquired hotel or resort properties.
VM Hotel Acquisition Corp.’s management team and board of directors is comprised of:
• Ian McAuley, president, Chief Executive Officer and director
• Tom Vukota, executive chair, Corporate Secretary and director
• Tom Wenner, Chief Financial Officer
• Charles Suddaby, director
• John Andrew, director
• Tracy Sherren, director