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Microtel Inn & Suites Development – Aurora, Ontario (with MasterBUILT Hotels)

Location: Aurora, Ontario

Sector:Real Estate .

 

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MasterBUILT Hotels of Calgary, AB was established with the vision of becoming the leader in the entrepreneurial development of select service lodging within Canada.  In 2011 it acquired the master territorial development rights to the Microtel Inn & Suites by Wyndham brand in the country.  In 2015, MasterBUILT Hotels was Canada’s fastest growing, ground-up, new-build hotel developer.  They have relationships, opportunities and partners across the country on all sides of the hotel development & operations spectrum.  They are a well-respected community partner, and invest directly into each community in which they work through our Common Ground initiative.  With a commitment to open 75 hotels by 2036 and a vision to making it an iconic brand loved by guests and owners alike, they are already on well on their way with 15 properties open and over 15 more scheduled to open by the end of 2018.

Business Documents

MG cp Summary

 

Size $6,500,000
Target Returns Forecasted 3rd year Stabilized Cash flow Distributions: 8.3%

Forecasted 3 year Equity Multiple: 1.75x

Forecasted 3 year IRR: 21.7%

Forecasted 3 year Asset Sale: 6% cumulative preferred return & 80%/20% profit share

Noteworthy Terms MasterBUILT Hotels will participate with no less that 10% equity stake (“skin in the game”)
  • Aurora is home to 59,000 people, 1,300 business with 7,300 jobs created from 2003-2013 (43%)
  • Limited Partnership opportunity to develop, own & operate a 100 room Microtel Inn & Suites by Wyndham in Aurora, Ontario
  • First mover advantage (no branded hotels in Aurora) with strong investment fundamentals
  • 3rd party verified (CBRE) Market Study & Appraisal confirms strong, forecasted occupancy and rate growth
  • Growth in equity from development to divesture with operating cash flow distributions in the interim

Jay Westman, Co-Founder & Chairman

Jay Westman brings to MasterBUILT Hotels over 30 years of experience as CEO and Chairman of Jayman MasterBUILT, a company that has been named “Builder of the Year” eight times in Calgary and seven times in Edmonton; one of Canada’s 50 Best Managed Companies; and Alberta Ventures Top 100 as one of the province’s most profitable private corporations. Jay is also one of Calgary’s leading philanthropists having substantially invested back into the community and industry in which he lives and works.

 

Marc Staniloff, Co-Founder & Chairman

Marc Staniloff’s vision and business expertise has grown Superior Lodging Corp. – MasterBUILT Hotel’s joint venture parent company – into one of the most successful and revered hotel development companies in Canadian history, recently winning the Pinnacle Award for Hotel Company of the Year (2016). Having played an instrumental role in the development and financing of branded hotels throughout the country, Marc is focusing his expertise on the growth of MasterBUILT Hotels and its partner brands. Marc has been a member of the Franchisee Advisory Board for Super 8 Worldwide and Wingate by Wyndham for more than a decade and is influential in the direction of the Microtel Inn & Suites by Wyndham brand development in Canada. An active member in the Young Presidents’ Organization, Marc’s extensive network of business relationships is the foundation of MasterBUILT’s growth.

 

Eric Watson, Chief Operating Officer

Eric Watson is responsible for providing the vision, strategy and leadership across all divisions of MasterBUILT Hotels.  Previously, Eric was Vice President of Superior Lodging Corp. – a founding partner in MasterBUILT Hotels – where he played an instrumental role in incubating and building MasterBUILT’s development and hotel operations to the current point, while also establishing Microtel Inn & Suites by Wyndham as one of Canada’s fastest growing hotel brands.  Eric has spent the previous 12 years in the resort and hotel industries in executive leadership in executive growth and profitable returns for entrepreneurial companies and investors.

 

Samantha Charlesworth, Chief Financial Officer

Samantha Charlesworth is responsible for overseeing the financial accounting of all facets of MasterBUILT Hotels’ operating companies and investment vehicles in addition to leading the project financing of all the company’s investments.  With over 20 years of experience spanning privately held hotel investment corporations, commercial investments, real estate development, health care and retail, Samantha combines her strategic and insightful approach to consistently deliver exceptional investor returns. Samantha has served as a director with various boards throughout her professional career and has been recognized as a visionary business leader.

 

David Bengert, Vice President of Construction

David Bengert leads MasterBUILT Hotels’ construction division where he oversees the construction of high quality hotels that are consistently delivered on time and on budget. Previous to joining the company, David held various senior roles within Jayman MasterBUILT for over 20 years, most recently as Director of Purchasing. David is a big proponent of pragmatic energy efficient building practices and is credited with establishing Built Green Canada – a 3rd party certification program for environmentally responsible homebuilding – where he served as the association’s President from 2003 through to 2011.

 

Aodhan Sheahan, Vice President of Operations

Aodhan’s diverse background in hotel operations spans 14 years and includes roles such as Hotel General Manager, roles in hotel sales and acquisitions and most recently as Director, Hospitality Operations with Fortis Properties where he was responsible for as many as 10 hotels and more than 1,000 employees.  Aodhan played an active role in the sale process of Fortis Properties’ 23 hotels. Aodhan has been invited to share his knowledge and passion for the hotel industry as a speaker at a variety of industry conferences including the Canadian Hotel Investment Conference and Western Hotel Investment Conference.

 

Rhonda Holland, Director of Finance & Group Controller

Rhonda brings to MasterBUILT an extensive accounting and finance background with 20+ years of reporting for public and private companies, and NPO’s.  Rhonda recently spent 6 years in a senior accounting role with Brookfield Residential, one of North America’s largest developer / builders publicly traded on the TSX and NYSE.  Rhonda possesses 10+ years of experience within global multi-divisional construction/engineering firms and 6+ years providing strategic oversight and financial reporting for executive leadership teams and investor groups.

Rhonda brings to MasterBUILT an extensive accounting and finance background with 20+ years of reporting for public and private companies, and NPO’s.  Rhonda recently spent 6 years in a senior accounting role with Brookfield Residential, one of North America’s largest developer / builders publicly traded on the TSX and NYSE.  Rhonda possesses 10+ years of experience within global multi-divisional construction/engineering firms and 6+ years providing strategic oversight and financial reporting for executive leadership teams and investor groups.

 

Donna Fahey, Director, Sales & Marketing

Donna’s sales and marketing experience in the tourism and hospitality industries spans over 20 years.  In her early years she spent 9 years as Sales and Marketing Manager for a luxury tour operator which managed the tour programs for the Calgary Zoo, University of Alberta and The Royal Astronomical Society of CanadaIn this role, Donna traveled around the globe finding new products and assuring the highest quality in hotels, tour operators, restaurants, and guides to match the 5 star experience clients expected.  During her time in this role, the company was named one of National Geographic’s Best Adventure Tour Companies Worldwide.  Following that role Donna took on the role of Director of Sales and Marketing for one of Western Canada’s top resort management companies, where she managed the Sales, Marketing, Reservations, Revenue Management and Public Relations for 13 resorts.  In this position she restructure both the reservations and sales department resulting in an increase in reservation conversion by 30% and overall group revenue by 29% companywide.