Jesta Group proudly announces acquisition of Courtyard by Marriott Downtown Toronto

Central Toronto Hotel the largest Courtyard by Marriott

MONTREAL, May 2, 2013 /CNW Telbec/ - Jesta Group, a leading real estate and management company with a global portfolio of properties, today announced the acquisition of the Marriott Courtyard Downtown Toronto, effective immediately. GE Capital Real Estate Canada is financing the transaction.

The Marriott Courtyard Downtown Toronto is the largest full-service Courtyard hotel in the world. Centrally located on Yonge St., near College St., it offers guests easy access to Toronto's business, shopping and entertainment districts. The hotel features 575 guest rooms, a newly redesigned lobby, restaurant, bistro, 24-hour fitness center, indoor pool, valet parking and full concierge services.

"The Marriott Courtyard brand has become a standard for business travellers and visitors who want prime locations, a top quality experience and good value," says Eric Aintabi, Vice-President, Jesta Group. "We are very proud to announce this acquisition. From Jesta's perspective, this was a very compelling business opportunity and an ideal chance to leverage our expertise in hotel ownership and management worldwide. We will ensure a seamless management transition for our guests and associates. We are also committed to significant renovations and upgrades to guest rooms, meeting places and common areas, in order to uphold and further elevate the high standards that people expect from the Marriott brand."

The property was originally built as the Westbury Hotel in 1957. In 1999, it was converted into a Courtyard. Last year, the hotel earned a TripAdvisor Certificate of Excellence.

About Jesta Group

With offices in Montreal, New York, London, Paris and Berlin, Jesta Group is a leading real estate and management company with a global portfolio of properties. With transactions involving six thousand apartments, seven thousand hotel rooms and hundreds of commercial buildings, Jesta Group has successfully structured a sophisticated portfolio of international real estate holdings. Jesta Group's mission is to acquire, develop and manage residential and commercial real estate in North America and Europe. Canadian properties include: the Marriott Residence Inn Peel Street in Montreal, the Sheraton Airport Hotel in Montreal and the newly-acquired Marriott Courtyard in Toronto. European properties, which have undergone or are undergoing major renovations, include the JW Marriott Cannes, the Hotel Pullman Paris Tour Eiffel and the AC Hotel Ambassadeur Antibes - Juan les Pins (France). For more information, please visit www.jesta.com.

SOURCE: Jesta Group

For further information:

Mark Lowe
PRagmatic Communications
For Jesta Group
E-mail: mark.lowe@pragcom.com
Tel: (514) 499-9632
Mobile: (514) 576-2519

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Jesta Group

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