The MetHotels chain of Doubletree and Compri hotels, which includes the Salt Lake Doubletree Hotel, has been acquired by Canadian Pacific Hotels and Resorts, the largest hotel company in Canada.
The purchase price was not disclosed.Under the terms of the agreement, the Canadian firm acquired an 80 percent share of MetHotels from Metropolitan Life Insurance Co. of New York.
Andrew Slater, general manager of Salt Lake's Doubletree Hotel, said the acquisition will not affect the Utah hotel.
"The new chain, which is now among the largest in North America, unites the strength of Canada's largest and most prestigious hotel company with a chain that has a strong position in the western United States," Slater said.
The new company has 28,000 rooms and 22,000 employees throughout the United States and Canada.
Slater said the acquisition involves the hotel management company only and does not effect the ownership of the hotel property in Salt Lake.
"The acquisition brings many competitive advantages to our constant effort to provide exceptional service and accommodations. The united chain will have a more powerful marketing and sales network, a more extensive reservations system, the ability to expand more rapidly and stronger purchasing power," he said.
CPH&R, wholly owned by Canadian Pacific Limited, has 24 hotels in city center and resort locations across Canada. Canadian Pacific Ltd. has holdings in transportation, waste services, energy, forest products, telecommunications, hotels and real estate.