Allied Hotel Properties Inc. (TSXV:AHP)Real Estate
Allied Hotel Properties Inc owns and manages hotel properties and other real estate properties in Canada.
Its parent firm, Allied Holdings Ltd, was founded in 1968 as a real estate developer.
Allied Hotel Properties, based in Canada, develops major Canadian Hotels in the urban areas. The firm was found as a separate legal entity in 1998. The real estate company’s portfolio of hotel properties includes different properties of Delta Vancouver Suites Hotel. Allied developed 226 suite of this property under its mixed-use Conference Plaza development program.
The company also owns two Georgia-based properties representing a total of 303 rooms. In Vancouver, Allied Hotel Properties claims to have developed the Vancouver Downtown Holiday Inn consisting of 242 suites. Some other hotels owned by the company include:
• Pacific Gateway Hotel and Resort (formerly known as Delta Vancouver Airport Hotel and Marina)
• Toronto Don Valley Hotel & Suites in Ontario
• Edmonton-based Chateau Lacombe has over 300 rooms
• Sandman Signature Hotel and Resort (earlier Delta Pacific Resort and Convention Centre)
In 2010, under a joint venture agreement with Toronto-based Tridel, Allied Hotel Properties developed Accolade, a residential condominium tower.
The company acquired The Toronto Don Valley Hotel & Suits and renovated and upgraded the suits in mid-1999. The upgradations included overall revamping like new furniture, mechanical and electrical infrastructure, etc. The company claims to regularly upgrade and renovate the hotel rooms with the second round of renovations at Don Valley in 2010-11. The hotel comprises 17 meeting rooms and spacious accommodation for around 700 people, the firm claims.
On January 6, 2020, the real estate firm sold The Toronto Don Valley Hotel & Suits to DVP Hotel Development for $102 million reportedly.
The hotel and real estate firm is listed on the junior equity trading platform in Canada, the TSX Venture Exchange. Its trading symbol is ‘AHP’.
Suite 300 515 West Pender Street Vancouver, BC Canada V6B 6H5