MISSISSAUGA, ON, May 5, 2016 /CNW/ - Temple Hotels Inc. ("Temple") (TSX:TPH) continues to monitor the wildfires in the Fort McMurray area. "We are concerned for the families and workers directly affected, and first responders who bravely continue to fight the fire" said Rai Sahi, Chief Executive Officer of Temple.
Temple properties located in Fort McMurray have been evacuated safely and will remain closed until relevant authorities determine it is safe to allow staff and guests to return. At this time, it is not known how the fire has affected any of Temple's properties in Fort McMurray. However, Temple has support teams ready to attend the properties, assess damages, and assist with the safe reopening of its hotels.
Fort McMurray and the surrounding areas remain under mandatory evacuation. We are watching the situation closely, however, due to the uncertainty and unpredictability of this natural disaster, we are unable to provide further details at this time. Temple will be working with emergency services and government agencies to provide support as needed.
Temple's Fort McMurray portfolio comprises 890 rooms in 9 properties. Temple maintains insurance coverage based on industry best practices and insurance standards, and include Liability, Property, Boiler and Machinery insurance programs that extend for Building, Contents and loss of Revenue.
Temple will continue to provide updates as additional information becomes available.
About Temple Hotels Inc.
Temple is a real estate investment company listed on the TSX under the symbols TPH (common shares), TPH.DB.C, TPH.DB.D, TPH.DB.E and TPH.DB.F (convertible debentures). Temple invests in hotel properties and assets across Canada, wholly-owning a portfolio of 29 hotel properties, comprising of 3,870 rooms, and participating in 50% of the earnings from two additional hotels, comprising 299 rooms. For more information, please visit www.templehotels.ca.
This press release contains certain statements regarding the assignment of the asset management which may constitute forward-looking information. The forward-looking information is subject to certain risks and uncertainties, which could result in actual events or results differing materially from the forward-looking statements.
SOURCE Temple Hotels Inc.
For further information: Paul Miatello, Chief Financial Officer, T 905-281-3800; Beverley G. Flynn, Vice President, T 905-281-3800