16°c Partly cloudy
22°c Thundershowers
Winnipeg Free Press - PRINT EDITION
Winnipeg real-estate trust posts increased profits
WINNIPEG-BASED Temple Real Estate Investment Trust is poised to expand its hotel portfolio while its oilsands properties continue to rack up profits.
The company posted a 24 per cent increase in revenue to $23.2 million for the quarter ending June 30, 2012, and profits were up 83 per cent to $3.98 million. The company has been on a buying spree and expects that to continue.
It is leveraging its lucrative dominance in the booked-up Fort McMurray, Alta., market -- Temple controls 51 per cent of the booming oilsands market with seven hotels and a total of 768 rooms -- and this month closed on the acquisition of two more Alberta hotels.
On Aug. 1, Temple paid $31 million for the 160-room Hilton Garden Inn in Edmonton, and on August 14, it acquired the Acclaim Hotel Calgary Airport for $42 million.
Temple REIT units closed down two cents at $6.28.
Republished from the Winnipeg Free Press print edition August 22, 2012 B5
Fact Check
Have you found an error, or know of something we’ve missed in one of our stories? Please use the form below and let us know.
More Business
- Back to Top
- Return to Business
More Business
(1 of 18 articles for today)
Contractor tech support wins at VentureChallenge
5:53 AM 0
Poll
Most Popular Business
- Consumers buy new, cheaper cameras instead of fixing existing ones
- Shark Club opens in citiplace
- Hudson's Bay says it's not just a retailer, but a hangout for shoppers
- Prairie Pulp & Paper gets foothold in U.S.
- McMunn & Yates absorbs five McDiarmid locations
- Bank of Canada will raise overnight interest rate in July 2014: BMO economist
- Daycare-subsidy rules bad for business
- Mountain Equipment Co-op unveils new logo, name to appeal to urban customers
- Men's Wearhouse fires chairman who told millions 'You're going to like the way you look'
- Carriers turned off by Canada's wireless law
- Shark Club opens in citiplace
- McMunn & Yates absorbs five McDiarmid locations
- Consumers buy new, cheaper cameras instead of fixing existing ones
- Daycare-subsidy rules bad for business
- St. Vital Centre's energy savings help managers snag BOMA awards
- Toronto condo market poses economic risk to Canada
- Aircraft maintenance engineer taking off
- Google unveils Internet beaming balloons launched into stratosphere
- Cutting edge, made-in-Manitoba tech finds buyer -- in Manitoba
- MTS, Rogers extend LTE deal
- New owner for lumber stores
- Earls Pembina says goodbye after 18 years
- Sobeys expanding reach in Western Canada with Safeway acquisition
- Grove Pub to take over former home of Papa George's
- New rules let customers cancel phone contracts without penalty after two years
- Shark Club opens in citiplace
- McMunn & Yates absorbs five McDiarmid locations
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Where is easy street? Survey of city's richest routes may surprise
- Custom-made suits no longer just for the ultra-wealthy
- Prairie Pulp & Paper gets foothold in U.S.
- Consumers buy new, cheaper cameras instead of fixing existing ones
- McMunn & Yates absorbs five McDiarmid locations
- Shark Club opens in citiplace
- Albertans look to U.S. for pipelines counsel
- Balancing today with tomorrow
- The $2-million question
- AP Exclusive: Inspections show more Bangladesh garment factories poorly planned and built
- Toronto condo market poses economic risk to Canada
- Accounting merger adds and subtracts
- McMunn & Yates absorbs five McDiarmid locations
- Prairie Pulp & Paper gets foothold in U.S.
- Consumers buy new, cheaper cameras instead of fixing existing ones
- Toronto condo market poses economic risk to Canada
- Cutting edge, made-in-Manitoba tech finds buyer -- in Manitoba
- Sobeys expanding reach in Western Canada with Safeway acquisition
- Accounting merger adds and subtracts
- Google unveils Internet beaming balloons launched into stratosphere
- Warren Buffett -- Winnipeg-style
- Daycare-subsidy rules bad for business
- New owner for lumber stores
- Snowbirds: It's that time of year again
- Sobeys expanding reach in Western Canada with Safeway acquisition
- Custom-made suits no longer just for the ultra-wealthy
- New rules let customers cancel phone contracts without penalty after two years
- Where is easy street? Survey of city's richest routes may surprise
- Value Partners cracks $1-B mark in assets
- McMunn & Yates absorbs five McDiarmid locations
- MTS to sell Allstream to Egyptian investment group, focus on Manitoba market
- Manitoba Movers
Ads by Google
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.
You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.
Have Your Say
New to commenting? Check out our Frequently Asked Questions.
Have Your Say
Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?
Login SubscribeHave Your Say
Comments are open to Winnipeg Free Press Subscribers only. why?
SubscribeThe Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.