Executive Hotels & Resorts

Executive Hotels & Resorts

February 02, 2012 15:42 ET

Vancouver, Canada Based Executive Hotels & Resorts Acquires Hotel at the Mountainside Lodge in Whistler, B.C.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 2, 2012) - Executive Hotels & Resorts announced today that it had acquired the non performing first, second and third mortgages secured by the hotel portion in the Mountainside Lodge in Whistler, B.C. and has now completed a debt for equity swap to take over ownership of the hotel and its associated parking. Executive completed the debt swap with an affiliate of Chicago based Shell Vacations. Executive took over ownership of the hotel January 10, 2012 and is scheduled to take over management of its operations April 1, 2012.

Shell will continue to operate its existing timeshare program in Whistler. This is the second property for Executive Hotels & Resorts in Whistler. Executive currently operates a boutique hotel in Whistler Village branded Executive - The Inn at Whistler Village.

The Mountainside Lodge Hotel features a variety of deluxe rooms and suites; all with richly decorated interiors. The property boasts an elegant poolside meeting room, underground parking, a stunning outdoor patio complete with pool and Jacuzzi and features the internationally acclaimed Italian restaurant Trattoria operated by celebrity chef Umberto Menghi. The Executive Mountainside is located slope side in the heart of Whistler Village and offers stunning views of both Whistler and Blackcomb mountains.

About Executive Hotels & Resorts

With a history spanning two decades and a portfolio that now extends to eighteen properties in North America, Executive Hotels and Resorts is a leading operator of full service boutique and plaza hotels and resorts . More information can be found at www.executivehotels.net.

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