Temple Hotels (TSX:TPH) says it has reached a deal to buy the Hotel Saskatchewan from Radisson for $32.8 million.
The ten-storey hotel, which opened in 1927, was originally one of a chain of hotels constructed and owned by the Canadian Pacific Railway.
Temple says in a news release that it plans to spend $6 million over about three years to make upgrades to guest rooms and the lobby.
The deal is expected to close at the end of March.
Temple already owns three properties in Saskatchewan, including the Temple Gardens Mineral Spa Resort in Moose Jaw, the Wingate Inn in Regina and the Saskatoon Inn and Conference Centre.