The Quality Hotel at Rideau Street and King Edward Avenue is set to be sold to an undisclosed buyer who recently made an unsolicited offer on the property.
About 45 employees were told last week that the Quality Hotel will close around Dec. 1, when the sale is set to close, said Lyla Radmanovich, a spokeswoman for current owner InnVest Real Estate Investment Trust. The purchase price was not disclosed.
“The new owner wanted the building to be empty upon the transaction (closing),” Radmanovich said. “So, obviously at a later date this new buyer I’m sure will announce his future plans for the property.”
Publicly traded InnVest will offer career counselling to its employees from the 290 Rideau St. hotel, she said. In a statement, InnVest said the company accepted the offer “in order to capitalize on the value of its portfolio.”
“They’re working with guests with future reservations … that way they’re transferred to other properties,” Radmanovich said.
The sale of the 212-guest room building, and 112 underground parking spots, doesn’t affect the company’s five other hotels in Ottawa, Radmanovich said. They are the Comfort Inn Ottawa East, Kanata Comfort Inn, Kanata Holiday Inn, Les Suites, and TraveLodge Ottawa East.
A spokeswoman for the University of Ottawa, which is a short walk away and is looking to increase its student accommodation, said it has no involvement in the purchase.
