Victoria-headquartered B.C. Investment Management Corp. has created the bcIMC Hospitality Group headed by former Canadian Hotel Income Properties REIT executives.
Ed Pitoniak will become the group's president and CEO and Kevin Grayston will become executive vice-president and CFO.
The group's mandate will be to oversee development of bcIMC's hospitality holdings, which include properties from its recent $1.2 billion acquisition of CHIP REIT, which closed December 4, and its acquisition of Delta Hotels Ltd. from Fairmont Hotels and Resorts announced in October.
Both Delta Hotels and CHIP will remain independent operating entities under the bcIMC Hospitality Group.
bcIMC manages more than $85 billion in assets that include the province's public pension plans and other investments.