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Pair of Thunder Bay hotels sold for $15M

Holloway Lodging Corporation has agreed to divest itself of its Travelodge and Airlane Hotel properties, selling to an unnamed owner.
The Travelodge is located on Memorial Avenue in Thunder Bay.

THUNDER BAY -- A pair of Thunder Bay hotels have been sold for $15 million.

But a release from owner Holloway Lodging Corporation does not specify to whom it sold the the two properties, the Travelodge Hotel and the Airlane Hotel and Conference Centre.

According to the release, issued on Thursday, the rate works out to about $60,500 per room.

After closing costs Holloway, which recently agreed to sell its shares to Clarke Inc., will net about $13.5 million. The company owns 21 hotels with 2,475 rooms.

Leith Dunick

About the Author: Leith Dunick

A proud Nova Scotian who has called Thunder Bay home since 2002, Leith has been the editor of Thunder Bay Source for 17 years and has served a similar role with since 2009. Twitter: @LeithDunick
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