Niagara Falls Based Hotel Company To Purchase One of A Kind Muskoka Resort

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Canadian Niagara Hotels Inc. is excited to announce that the court today has approved the acquisition of The Rosseau, a JW Marriott Resort & Spa from Alvarez & Marsal Canada ULC, court-appointed receiver of the Rosseau Resort Developments Inc.

"We are proud that we will soon be adding The Rosseau JW Marriott to our portfolio of first class hotels. This is unquestionably Canada’s premier Resort and Spa", said Michael DiCienzo, Vice-President of Development, Canadian Niagara Hotels Inc.

Located on picturesque Lake Rosseau in the heart of Ontario’s Cottage Country, the one of a kind Resort and Spa is Canada’s first JW Marriott Resort and Spa - the most elegant and luxurious brand within the Marriott Group of Hotels.

The Rosseau carries the brand’s reputation of orchestrating memorable experiences for the accomplished traveller, and provides an environment of simple elegance for every guest. Located in the heart of the Muskoka Lakes resort community of Red Leaves, just 2 ½ hours north of Toronto, the JW Marriott Resort combines approachable luxury with authentic, crafted and intuitive moments for the ultimate retreat. An adventurer's paradise, this scenic Canadian resort boasts an array of indoor and outdoor activities for all seasons. The luxurious resort features a year-round indoor-outdoor pool, exquisite stone fireplaces in each guestroom & suite and the acclaimed Spa Rosseau. One of only 45 JW Marriott’s worldwide, hallmarks of The Rosseau include classic, sophisticated design, and scrumptious Italian cuisine at Teca, which has been recognized by Where Magazine as one of Canada's Top 10 New Restaurants in 2009.

“We are proud that we will soon be adding The Rosseau JW Marriott to our portfolio of first class hotels. This is unquestionably Canada’s premier Resort and Spa. We consider this Resort as a flagship property within our group of hotels” said Michael DiCienzo, Vice-President of Development, Canadian Niagara Hotels Inc.

“We are very excited about the acquisition of this outstanding property by Canadian Niagara Hotels”, said Scott Allison, vice president, Canadian Operations for Marriott Hotels of Canada. “We have been working very closely with this highly regarded hotel and entertainment company through their ownership of two existing Marriott hotels in Niagara Falls and we share their commitment to service excellence and outstanding hospitality. We sincerely congratulate Canadian Niagara and their 3500 employees on this new addition to their portfolio.”

Richard Morawetz, a Managing Director of Alvarez & Marsal Canada ULC, said he is pleased with this outcome, as the receiver is confident that Canadian Niagara Hotels Inc. is well-positioned to maintain this premier property as an outstanding resort and conference destination.

CBRE Hotels acted as Exclusive Advisors to the transaction. Bill Stone, Executive Vice President, sees this as a strategic, landmark acquisition in one of Canada’s premier vacation destinations with terrific potential.

Canadian Niagara Hotels Inc. consists of a number of business units which operate one of Canada’s largest entertainment complexes. Located directly in front of Niagara Falls, CNH has expanded and branched out into five divisions: accommodations, food and beverage, retail and attractions. Founded in 1993, Canadian Niagara Hotels continues to be one of Niagara’s most established tourism and hospitality companies with a portfolio of first class brands strategically located in both Niagara Falls, Canada and Niagara Falls, USA.    

Marriott International Inc. is a leading lodging company with more than 3,600 lodging properties in 71 countries and territories. The company is headquartered in Bethesda, Maryland, USA, and had approximately 129,000 employees at 2010 year-end. It is ranked by FORTUNE as the lodging industry’s most admired company and one of the best companies to work for. In fiscal year 2010, Marriott International reported sales from continuing operations of nearly $12 billion.

Alvarez & Marsal is a global professional services firm specializing in turnaround and interim management, performance improvement and business advisory services. A&M delivers specialist operational, consulting and industry expertise to management and investors seeking to overcome challenges, accelerate performance and maximize value across the corporate and investment lifecycles. Founded in 1983, the firm is known for its distinctive restructuring heritage, hands-on approach and relentless focus on execution and results.

CBRE Hotels is a full-service, international service provider focused exclusively on hospitality. We provide global insight and tailor-made solutions from experienced consultants who are passionate about hotels. Headquartered in Chicago and comprised of over 160 dedicated professionals spread worldwide with over 50 professionals present in Canada and in all major markets in the US including Los Angeles, San Francisco, Seattle, New York, Washington D.C. and Miami.

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Tabatha Adams
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