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Ontario  + Hospitality  |  March 8, 2024
Sunray Group has purchased the Sheraton Ottawa Hotel for an undisclosed price.
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By: Monte Stewart

Sunray Acquires Sheraton Ottawa Hotel

Sunray Group has purchased the Sheraton Ottawa Hotel for an undisclosed price.

Mark Kay, president of CFO Capital, announced the deal on behalf of Sunray Chairman and CEO Ray Gupta in a LinkedIn post. Markham, Ont.-based CFO provided acquisition financing for Toronto-based Sunray.

The hotel is located in downtown Ottawa at 150 Albert Street West near Parliament Hill. The property includes 236 rooms and suites along with 9,600 square of meeting space, a restaurant and lounge, indoor swimming pool, and fitness centre, among other amenities.

Alam Pirani, who heads Colliers’ Canada and Caribbean hotels group, arranged the sale. Based in Toronto, Pirani also serves as a Colliers vice-chairman.

Pirani also announced the deal on his LinkedIn channel.

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Inside The Story

Alam PiraniMark Kay

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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