WINNIPEG, Sept. 8, 2016 /CNW/ - Lakeview Hotel Investment Corp ("LHIC") announced today the closing of the sale of the Lakeview Inn & Suites - Edson East hotel in Edson, Alberta for a price of $2.9 million. All net proceeds from the sale are intended to be used for debt reduction.
The purchaser of the hotel has entered into a 15 year license agreement that will see the hotel continue to operate as a Lakeview Inn & Suites. Lakeview Hotel Investment Corp. will share in the ongoing licensing revenue. The transaction was brokered by Colliers International Hotels.
Lakeview Hotel Investment Corp is listed on the TSX Venture Exchange under the symbol "LHR". Lakeview Hotel Investment Corp receives income from ownership, management and licensing of hotel properties.
The TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Lakeview Hotel Investment Corp
For further information: Avrum Senensky, Executive Vice President, Tel: (204) 947-1161, Fax: (204) 957-1697, Email [email protected]