Case Studies – Residence Inn Montreal
Investment Overview
Total Cost
$24.8m
Debt
$15.8m
Equity
$9.0m
Equity IRR
54%
Equity Multiple
2.26
Keys
190
Cost per Key
$130,526
Investment Date
2004
Exit Date
2006
Hold Period (Months)
24
•
Purchased an apartment building in the center of downtown Montreal and
converted it to a Residence Inn by Marriott
•
Sold the hotel upon stabilization (23 months after acquisition), achieving an IRR
of 54%
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