Four Points Sheraton Hotel Sold

Monday, March 17, 2008 03:57 AM

Prince George, B.C. – The Four Points Sheraton Hotel in Prince George has only been open since July of 2007 and there may soon be an “Under new Ownership” sign on the property.

There is word Starwood Hotels and Resorts Worldwide Inc, is selling the new hotel to Lakeview Hotel Real Estate Investment Trust of Winnipeg.

According to a release from Lakeview REIT, the offer to purchase the Four Points Sheraton is for $9,675,000 with another $300 thousand to finish the construction of the pool at the hotel.

The deal is scheduled to close on the First of April.

This will expand to 17, the number of hotels in the Lakeview REIT ownership.

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Posted on Monday, March 17, 2008 03:57 AM in News by 250 News

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Comments

Posted by: lunarbase on March 17 2008 6:16 AM

I have stayed at their property in Brandon Mb. Very unique lay-out to the hotel, great programs they had for the meals, lobby open area, etc. I wish them well here and hope they can repeat the great service and atmosphere I experienced in Brandon.

Posted by: metalman on March 17 2008 8:36 AM

Would this rumoured sale make them the third owner? I heard that a local man bought the property, and got the building out of the ground, before selling it to four points. Anybody know the truth?
metalman.

Posted by: Eagleone on March 17 2008 8:57 AM

Ya I think this is number three or four by now and its taken almost as many years to complete its construction.

Posted by: Harbinger on March 17 2008 11:15 AM

Ten million bucks? This whole town ain't worth ten million bucks.

Posted by: metalman on March 17 2008 1:35 PM

Oh my gosh! Have these people been watching flip this business? The price does seem a little rich.
metalman.

Posted by: lostfaith on March 18 2008 12:03 PM

One day people will realize just how poor this location is for that type of business.
Access is terrible.

Posted by: Harbinger on March 18 2008 12:56 PM

Didn't you sign the petition at the Great Wall restaurant for a left turn lane? There is a petition somewhere probably twenty years old asking fer the same thing. Good luck.