On May 17, 2018, Marriott International, Inc. (“Marriott”) (NASDAQ: MAR) disclosed that one of its subsidiaries sold Le Centre Sheraton Montreal Hotel to a private investor for $92 million. The company still has a long-term management agreement for the 825-room property located in downtown Montréal.
Marriott is a leading global lodging company with more than 6,700 properties across 130 countries and territories, reporting revenues of more than $22 billion in fiscal year 2017. Founded by J. Willard and Alice Marriott and guided by family leadership for more than 90 years, the company is headquartered outside of Washington, D.C. in Bethesda, Maryland.
Miller Thomson acted as Canadian counsel to Marriott with a team led by Philipp Park and Jennifer Bishop, and including Louis-Philippe Borduas (Corporate/M&A), Chantal Joubert (Real Estate), and Andrew Etcovitch (Tax).