Tourism and Parks
Consortium negotiating to take over Algonquin Hotel01 February 2012
SAINT ANDREWS (CNB) – The provincial government's negotiation with a consortium of companies is one step closer to ensuring the long-term operations of both the hotel and golf course.
“Specific details will be negotiated during this due diligence period with a consortium that knows the resort and hotel business,” said Transportation and Infrastructure Minister Claude Williams. “We are entering into serious discussions with a joint-venture between New Castle Hotels & Resorts and Southwest Properties.”
New Castle is an owner, operator and turnaround specialist with 31 hotels and resort properties in United States and Atlantic Canada, and a preferred manager for Marriott, Starwood, and Hilton brands. Southwest is one of the most active commercial and residential developers in the Atlantic Provinces, with successful partnership projects in the Moncton Residence Inn and the Dartmouth Crossing Hampton Inn and Suites.
The potential buyer, collectively New Castle and Southwest, would obtain a license from Marriott in order for the Algonquin Properties to become a member of Marriott's Autograph Collection. Marriott International's worldwide presence and loyalty program is well known.
“We are pleased and excited to engage in the restoration of this majestic resort on one of the most spectacular locations on the Atlantic coastline,” said David Buffam, New Castle's chief executive officer. “The unique heritage of the Algonquin will, upon joining the Autograph Collection, affiliate the property with some of the most distinctive hotel and resort destinations around the world.”
Since it was announced that the Fairmont would no longer be operating the Algonquin, the provincial government has been keeping the local community apprised on their efforts to ensure the hotel and golf course continue to operate effectively.
“We recognize that the resort is a major economic generator for Charlotte County and the surrounding region,” said Tourism and Parks Minister Trevor Holder. “New Brunswick continues to be proud of the Algonquin as a tourism icon. We all want the same thing, a rejuvenated, revitalized Algonquin that will remain the jewel of the Fundy shores for decades.”
Details about the long-term future of the property are expected soon.
“This is one more concrete example of our government being focused on growing communities and creating a stronger, more sustainable economy,” said Williams.
Visitors wishing to book a stay at the Algonquin Resort can do so by calling 1-855-529-8693 or 1-506-529-8823; or by visiting the resort's website. Tourism packages that highlight the resort are outlined on the New Brunswick Tourism website.
● Algonquin Resort and Golf Club: www.algonquinresort.ca
● New Brunswick Tourism: www.tourismnewbrunswick.ca