Algonquin Hotel Sold; to Become Marriott

By Bizclik Editor

 

There’s new management for the historic Algonquin Hotel and Resort in Saint Andrews. Under a joint venture agreement by New Castle Hotels & Resorts and Southwest Properties, the Algonquin Hotel will become a Marriott International member and continue to provide an exceptional stay to guests.

"The Algonquin Hotel & Golf Course has been owned by the provincial government for 40 years, and the iconic resort facility has served visitors for more than a century," said New Brunswick Culture, Tourism and Healthy Living Minister Trevor Holder. "It continues to have enormous tourism appeal and potential. However, it is in need of refurbishment and a new marketing approach. The time has come to place it in the hands of an experienced team of new managers who have solid turnaround success credentials within the tourism destination industry."

The Algonquin Hotel was originally built in 1889 by the St. Andrews Land Co and was later owned by the Canadian pacific Railway Company. The New Brunswick provincial government has owned the Algonquin Hotel since 1971. The hotel has been managed under contract by Fairmont Hotels & Resorts since 2001.

 

SEE RELATED STORIES FROM THE WDM CONTENT NETWORK:

Click here to read the latest edition of Business Review Canada

"The Algonquin is an economic engine for Saint Andrews, Charlotte County and the province," said  New Brunswick Transportation and Infrastructure Minister Claude Williams. "That is why the provincial government has taken the steps it has to secure the resort's long-term viability and future."

Under the purchasing agreement, the New Brunswick Government has sold the Algonquin with a $21-million repayable loan to the new owners for operations, restoration and rejuvenation of the property as it changes brands to the Marriott Autograph Collection.

"New Brunswick has proven to be an excellent place for us to do business, and we are delighted to have the opportunity to restore the lustre of this irreplaceable icon," said David Buffam, CEO, New Castle Hotels & Resorts. “Marriott has been our partner of choice in many projects over the years, and we are eager to see what is to come from the linkage of the strongest hotel brand in the world with a renewed historic resort."

Share

Featured Articles

Sustainability, ESG, net zero in focus at must-attend event

Sustainability takes centre stage at two-day hybrid conference featuring thought leaders covering circular economy, scope 3, ESG, B Corp, net zero, DE&I

Must-attend sustainability events for executives in 2022/23

Discuss and debate the most pressing issues around sustainability at these nine executive events – from London to Abu Dhabi, San Diego to Singapore

Meet the CEO on a mission to nurture women leaders in Africa

The argument for women leaders in Africa is compelling, yet numbers are small. But one female leader is on a mission to change that – Awamary Lowe-Khan

BCG's Daniel Weise on supply chain and procurement strategy

Leadership & Strategy

Flexible work perks heat up as the war on talent rages

Human Capital

Meet the COO: Former Israel Defense Force cyber lead Parnes

Technology & AI