Marriott International completes sale of Sheraton Centre

On October 17, 2017, Marriott International, Inc. (Marriott) completed the $335-million sale of The Sheraton Centre Toronto Hotel (Sheraton Centre). The Sheraton Centre is a four-star hotel with 1,372 guest rooms. It is located in Toronto’s financial district, across from City Hall, and is the city’s largest convention hotel. 

The hotel will continue to be operated by Marriott. 

Marriott was represented by Dottie Ingalls, Vice President and Assistant General Counsel with the assistance of Dana Fidazzo and Nick Rupkey of Venable LLP in the United States; and in Canada by John Leopold, John Dow, Frank Mathieu, Nancy Ramalho, Michael Kilby, Larry Cobb, Andrea Boctor, Neil Shapiro, Philippe Kattan and Lynda Crago of Stikeman Elliott LLP, and David Tang, Savvas Kotsopoulos, Chris Newbert of Miller Thomson LLP in connection with municipal and real property matters, and Jennifer Bishop and Gary Volman of the same firm on corporate matters. 

The buyer was represented by Carol Weld King of Morris, Manning & Martin, LLP in the United States and in Canada by Juli Morrow, Ken Herlin and Alan Bowman of Goodmans LLP and by Michael Choiselat and Lewis Allen of Thompson Dorfman Sweatman LLP

Wells Fargo Bank, N.A., Canadian Branch provided the acquisition financing and was the sole book runner and co-lead arranger. Wells Fargo was represented in Canada by Jeffrey Knowles and Danny McMullen of McCarthy Tétrault LLP.