Sequel Hospitality Investments Inc. Purchases Touchstone on Lake Muskoka Resort

MUSKOKA, ON, July 10, 2013 /CNW/ - Sequel Hospitality Investments Inc., a division of Sequel Hotels and Resorts, has entered into a purchase and sale agreement for Touchstone on Lake Muskoka, a $35 million boutique Muskoka resort and condominium development in Bracebridge, Ontario. 

Set on 22 waterfront acres, Touchstone on Lake Muskoka represents one of the most significant pieces of development property in the Canadian resort real estate market.  Touchstone is also one of the few Muskoka resorts that features entirely new build accommodation and amenities.

"Touchstone will compete internationally as a top-tier resort project," said Robert McLaughlin, President & Chief Operating Officer of Sequel Hospitality Investments.

"Sequel Hospitality secured Touchstone Resort at well below replacement value which fits nicely with our investment criteria."

"New ownership by specialists like Sequel brings new vision and opportunities to Touchstone.  Existing Touchstone condominium owners will benefit from the economies we create, and growth of a four-season resort will create new Muskoka employment," McLaughlin said.

Sequel's expansion plans for Touchstone will focus on condominium development, presenting new layouts for an additional 56 lakeside, whole ownership condominiums priced from $229,000.  Owners will have the option of placing their unit in the resort rental pool.

"While we work with the property team and existing condo owners, as well as the local community, to research, plan and capitalize on Touchstone's potential, our focus as hoteliers remains offering that escape for the senses that is already a signature of Touchstone resort. " said Anne Larcade, President & CEO, Sequel Hotels and Resorts and CEO of Sequel Hospitality Investments.  

"Muskoka has earned worldwide destination honours from trendsetters like National Geographic Traveler and Touchstone is situated right on its most prized lake.  Sequel will use our expertise to enhance Touchstone's already stunning setting, refined architecture and upscale accommodations, presenting this resort gem to a wider audience."

"Given our strategic locations, growing collection of hotel assets, existing pipeline and hospitality expertise, Sequel Hospitality Investments is ideally positioned to develop truly unique hotels and resorts, noted McLaughlin.  "We look forward to introducing several more developments over the coming months." 

About Sequel Hospitality Investments
Sequel Hospitality Investments Inc. ("SHI") is a private equity group and development investment company focused on the hotel and resort asset class and mixed-use developments. The Sequel Group of companies is a leading driver of lifestyle boutique properties. For information go to www.sequelhospitalityinvest.com

About Sequel Hotels and Resorts
Founded in 2005, Sequel Hotels and Resorts is an independent operator, third party manager and turnaround specialist, with distinctive hotels and resort properties in Canada. Sequel Hotels and Resorts has a record of RevPar index leadership, solid operating margins, innovative marketing and distribution, strong company culture and intuitive guest service. For information go to www.sequelhotels.com

About Touchstone Muskoka Resort
Set on Lake Muskoka, between Port Carling and Bracebridge, off Highway 118, Touchstone Muskoka encompasses 33 luxurious accommodations ranging from spa suites to 2,000 sq. ft., 4-bedroom villas.  Touchstone is also home to Taste Restaurant, designed to capture Muskoka's heritage of wooden boat building, and Touch Spa, with six treatment rooms and outdoor treatment facilities overlooking the lake.  Just 90 minutes from Toronto by car or 50 minutes by float plane, other key features of Touchstone include an 825-foot waterfront, with white sand beach on one side of the peninsula and deep boating water on the other, an infinity pool, the Boathouse lakeside conference centre and fireplaces in every guest room.  For reservations and information, visit www.touchstonemuskoka.com.

SOURCE: Sequel Hospitality Investments

For further information:

Anne White
E-mail: anne@getfreshpress.com
Phone: (416) 450-4452

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