ALT Hotels is a division of Group Germain Hotels, with properties in Toronto, Halifax, Montreal, Quebec City, Ottawa, St John’s and Saskatoon. The hotels are strategically located across Canada to offer their guests a unique alternative to conventional hotels.
“We are delighted to have been able to participate in such a large refinancing for this growing and respected brand,” says Cameron Woof, Assistant Vice President of Hotels and Syndication with CWB Franchise Finance. “Our aim is to provide not only financing for our clients, but genuine advice and expertise in the hotel space.”
CWB’s solution included facilities for the refinancing and a revolving line of credit, unlocking a significant amount of capital for renovations and brand expansion. CWB’s expertise also found a solution for ALT Hotels to finance two un-stabilized new build hotels in Saskatoon and St. John’s by leveraging the broader cross-collateralized security package of their stabilized assets in strong markets.
“We are thankful to all of our partners who helped us secure the financing we needed to see us into the future,” says Annie Landry, Vice President of Finance with Group Germain. “CWB’s portion of the loan provided us with the necessary capital to complete new projects and poises us well for future growth. Their turnaround time and expertise was impeccable, and we are thankful to have found a partner that understands our industry and our needs.”
About Alt Hotels by Le Germain
At Alt Hotels, we march to a different beat by giving guests the best of what they want without any extra fluff. All of our properties are carefully crafted to combine eco-friendly comfort within sleek urban spaces – all designed with guests in mind. Located in Winnipeg, Toronto, Ottawa, Montreal, Brossard, Quebec City, Halifax, St. John’s, Calgary and Saskatoon; and in 2020 Alt Hotels will open in Calgary’s University District and Ottawa Airport. Alt Hotels. Stay unconventional. More information: www.althotels.com/en
About Germain Hotels
Germain Hotels is a Canadian family-run business that owns and operates Le Germain Hotels, Alt and Alt+ Hotels across Canada. Ranked as one of Canada’s best-managed companies, the hotelier is known for its exceptional hospitality philosophy and the unique style that characterizes its hotels. Having celebrated its 30th anniversary in 2018, Group Germain Hotels has achieved its ambitious goal of having 20 hotels by 2020, the 1250-employee company’s ultimate goal is now to become the first independent, truly pan-Canadian hotel group. Visit www.groupegermain.com/en.
FOR FURTHER INFORMATION CONTACT:
Vice President, Franchise Finance
CWB Franchise Finance
Annie Landry, CPA, CA
Vice President of Finance