Winnipeg Free Press - ONLINE EDITION

Temple REIT invests in Saskatoon hotel

Temple Real Estate Investment Trust has signed an agreement to purchase a Saskatoon hotel and conference centre for $37.15 million.

The Winnipeg-based REIT said the deal to acquire the 250-room Saskatoon Inn & Conference Centre is scheduled to close on Nov. 1.

Temple said it intends to spend $10 million over the next three years to refurbish the guest rooms, lobby and meeting rooms, and to re-clad the exterior of the eight-storey facility, which boasts the largest hotel ballroom in Saskatoon.

murray.mcneill@freepress.mb.ca

 

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