Jesta Group Announces Acquisition of Courtyard by Marriott Downtown Toronto

Jesta Group, a leading real estate and management company with a global portfolio of properties, announced the acquisition of the Marriott Courtyard Downtown Toronto, effective immediately. GE Capital Real Estate Canada is financing the transaction.

The Marriott Courtyard Downtown Toronto is the largest full-service Courtyard hotel in the world. Centrally located on Yonge St., near College St., it offers guests easy access to Toronto's business, shopping and entertainment districts. The hotel features 575 guest rooms, a newly redesigned lobby, restaurant, bistro, 24-hour fitness center, indoor pool, valet parking and full concierge services.

"The Marriott Courtyard brand has become a standard for business travellers and visitors who want prime locations, a top quality experience and good value," says Eric Aintabi, Vice-President, Jesta Group. "We are very proud to announce this acquisition. From Jesta's perspective, this was a very compelling business opportunity and an ideal chance to leverage our expertise in hotel ownership and management worldwide. We will ensure a seamless management transition for our guests and associates. We are also committed to significant renovations and upgrades to guest rooms, meeting places and common areas, in order to uphold and further elevate the high standards that people expect from the Marriott brand."

The property was originally built as the Westbury Hotel in 1957. In 1999, it was converted into a Courtyard. Last year, the hotel earned a TripAdvisor Certificate of Excellence.

on May 2, 2013