The 212-room Quality Inn in Ottawa, at Rideau Street and King Edward Avenue, is set to be sold to an undisclosed buyer who recently made an unsolicited offer on the property, reports the Ottawa Citizen. The sale will reportedly close around December 1.
“The new owner wanted the building to be empty upon the transaction (closing),” said Lyla Radmanovich, a spokeswoman for current owner InnVest Real Estate Investment Trust. “So, obviously at a later date this new buyer I’m sure will announce his future plans for the property.”
In a statement, InnVest said the company accepted the offer “in order to capitalize on the value of its portfolio.”
The sale of the hotel doesn’t affect the company’s five other hotels in Ottawa, Radmanovich said. They are the Comfort Inn Ottawa East, Kanata Comfort Inn, Kanata Holiday Inn, Les Suites, and TraveLodge Ottawa East.