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,
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
"Sequel Hospitality secured Touchstone Resort at well below replacement value which fits nicely with our investment
"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:
Phone: (416) 450-4452