Bluesky Hotels & Resorts
As a foreign investor considering a first-time acquisition in Canada, Bluesky Hotels & Resorts (Bluesky) required assistance in understanding the characteristics, performance, and value of a portfolio of 113 hotels located across Canada. Bluesky engaged Cushman & Wakefield’s Hospitality & Gaming Group to conduct research into each of the hotels and their competitive markets, and to provide information to Bluesky to allow it to better formulate an acquisition strategy and bid price. The portfolio involved full, select and limited service hotels under numerous brands and located in diverse markets.
Cushman & Wakefield utilized its core Hospitality team to research each of the hotel’s competitive markets and the role of each of the subject hotels. In conjunction, our regional offices provided input into local economic activity and key area developments. The team also used information provided by the vendor as well as from our files to develop a detailed analysis on each hotel and to provide Bluesky with our estimates of value.
Cushman & Wakefield inspected each hotel and provided a preliminary assessment of the entire portfolio within three weeks. This gave Bluesky enough information to have comfort in moving forward with its acquisition strategy. Within another three weeks, we completed our valuation reports and our client was successful in its purchase of the portfolio. We continue to work with Bluesky and look forward to a long relationship.