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InnVest Hotels acquires The Algonquin Resort St. Andrews by‑the‑Sea, Autograph Collection and The Algonquin Golf Course
InnVest Hotels has acquired The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.
News
Coast Hotels to expand U.S. footprint, completes acquisition of master franchise agreement
Coast Hotels Limited, a fully owned subsidiary of APA Hotel Canada, Inc. has completed the acquisition of a master franchise agreement inclusive of all existing franchised hotels from Coast Hotels USA, LLC.
The U.S. expansion plan aims to enable Coast Hotels to increase its footprint, particularly throughout the West Coast. Operating as Coast Hotels USA, Inc., a newly established subsidiary of Coast Hotels Limited, the company aims to achieve significant growth through a combination of new franchise and hotel management contracts, mergers and acquisitions and the purchase of hotel real estate in key locations by 2027.
“Today’s announcement and our plans for the USA expansion represent one of the most important milestones in our 50-year history as a hospitality company,” said Jin Sasaki, president of Coast Hotels. “The opportunity to focus on USA’s most dynamic destinations and introduce our unique, localized approach and our unmatched dedication to our guests will present outstanding opportunities for expansion. We look forward to working with our parent company, APA Hotels, and all of our partners as we embark on a new era as a company.”
The U.S. expansion plan represents the latest phase of Coast Hotels’ growth strategy. In 2022, the company added five hotels to its portfolio including the acquisition and conversion of the Regency Suites Hotel to the Coast Calgary Downtown Hotel & Suites by APA.
