Happy to hear this week that Morguard will take over management of Temple Hotels, details listed in the press release below. This is positive news for Temple which is being hurt by the Western Canadian slump and a weak balance sheet. Hopefully Morguard will clean up Temple’s balance sheet, re position and further diversify its assets, and ultimately create new shareholder value.
http://www.newswire.ca/news-releases/temple-hotels-inc-announces-conditional-assignment-of-asset-management-from-shelter-canadian-properties-limited-to-morguard-corporation-563352581.html
