Just three months after its grand opening, La Quinta Inn & Suites, a new hotel in downtown Oshawa, experienced above-average occupancy, along with excellent reviews. In fact, only two months after its November 2013 inauguration, La Quinta Oshawa was ranked No. 1 among Oshawa hotels by a well known travel website. Such success was no surprise to the Business Development Bank of Canada (BDC), which helped get the project off the ground.
When businessman Feroze Virani realized that a new downtown hotel would fit in perfectly with the rejuvenation of Oshawa’s downtown core, he turned to BDC for assistance. BDC Financing provided Virani with a high-ratio loan, helping fund the extensive renovations required to convert a vacant office building into a modern, 59-room hotel.
La Quinta Oshawa is surrounded by restaurants and entertainment venues, located close to a university and community hospital, and just steps away from the General Motors Centre, which hosts the Oshawa Generals hockey team and a wide range of concerts and events. The hotel offers such amenities as the generous and free Bright Side Breakfast, a fitness centre, a 24-hour business centre and three meeting rooms available for business and social events. La Quinta Oshawa also equips its rooms with luxurious bedding, new 32" flat screen HD TVs, microwaves, refrigerators and free high-speed Internet.
Says Virani: “BDC supported our project and provided us with the necessary financing despite La Quinta being a new hotel brand in Canada. We value BDC’s support.”