The Delta Victoria Ocean Pointe Resort & Spa is among a group of 26 hotels in the process of being sold to a private investment group in an agreement still to be finalized.
B.C. Investment Management Corp. is selling its hotel portfolio, ranging from Victoria to the Fairfield Inn and Suites in St. John’s, N.L. The Selkirk waterfront-based corporation invests money on behalf of public sector pension funds.
A confidential sales agreement has been reached with the investment group, Brigitte Diem-Guy, vice-president of sales and marketing for SilverBirch Hotels and Resort, said Thursday.
SilverBirch, based in Vancouver, is an entity of BCIMC and responsible for its hotels.
The Ocean Pointe is the only Victoria hotel in the group and one of two in B.C. The other is the Residence Inn by Marriott in downtown Vancouver.
“The transaction is subject to certain closing conditions and approvals and it has not yet been completed,” Diem-Guy said.
“The hotel assets include full-service, focused-service and extended-stay properties that operate under major international franchise brands. Seventeen of the hotels are licensed with Marriott International and include 13 Delta by Marriott branded properties.”
As the company completes the sale, SilverBirch and its brand partners will continue to operate all hotels to the highest levels of guest services, she said.
The purchaser is a private investor group incorporated in Canada, Diem-Guy said.
Two years ago, Marriott International Inc. announced it was buying the Delta Hotels and Resorts brand, management and franchise business from BCIMC for $168 million. The deal did not include hotel properties.