Nfld. & Labrador

Fortis to sell off 22 hotels across the country for $365M

Fortis Inc. has found a buyer for its string of Canadian hotels.

Private investors group to buy properties, including five in Newfoundland and Labrador

The Delta in downtown St. John's is one of 22 hotels that Fortis Inc. will be selling to a private investors group. (Google Maps)

Fortis Inc. has found a buyer for its string of Canadian hotels.

The St. John's-based company says it has signed a deal with an un-named private investor group and will sell the 22 hotels for $365 million

The properties are spread across seven provinces, with five of them in Newfoundland.

They include the Holiday Inn, Sheraton and Delta in St. John's, the Mount Peyton in Grand Falls-Windsor and Corner Brook's Greenwood Inn.

The sale is latest move by the company as it sheds its property portfolio and focuses on electrical and natural gas utilities.

In May, Fortis sold a number of office buildings and malls, including 10 in Newfoundland and Labrador. 

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