Fortis completes disposition of hotel portfolio

On October 13, 2015, Fortis Properties Corporation (FPC), a wholly-owned subsidiary of Fortis Inc. (Fortis), completed the disposition of its hotel portfolio for a purchase price of $365 million, subject to certain adjustments, to a private investor group. 

The hotel portfolio comprises 22 hotels located in seven Canadian provinces. 

FPC and Fortis were represented by in-house counsel Regan O’Dea and by Davies Ward Phillips & Vineberg LLP, with a team led by Gabriella Lombardi (real estate) and Jim Reid (corporate) and including Pawel Mielcarek and Alysha Virani (real estate), John Bodrug and Jim Dinning (competition), Raj Juneja (tax) and Jessica Bullock (employment). Also acting were Gregory Connors, George Monroe and Jamie Angus of McInnes Cooper in Newfoundland and Labrador and Nova Scotia; Annette Lambert, Craig Alcock and Jessie Bachinsky of Burnet, Duckworth & Palmer LLP in Alberta; John Stefaniuk of Thompson Dorfman Sweatman LLP in Manitoba; Michael Petrescue and Nikki Rudachyk of McKercher LLP in Saskatchewan; and James McBeath of Owen Bird Law Corporation in British Columbia.