Extended Stay Hotels sells its Canadian hotels in $76 million transaction

May 1, 2017

On May 1, 2017, Extended Stay America, Inc. (NYSE: STAY) (“ESH”) completed the sale of its three Canadian hotels located in Ottawa and Vaughan, Ontario and St. John’s, Newfoundland to an Ontario real estate developer for an aggregate value of $76 million.

ESH offers hotel suites in nearly 700 locations throughout North America, with long-stay hotels in most major cities.

Miller Thomson advised ESH in this sale with a team that included Savvas Kotsopoulos and Nelly Mosstaghimi-Tehrani (real estate), Jennifer Bishop (corporate/M&A), Ron Choudhury and Victoria Rodriguez (tax), Michelle MacGillivray (labour and employment) and Karen Durell (trademark licenses).