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.
Studio 6 Canada has announced the signing of a new purpose-built Studio 6 all-suite hotel in Hornepayne, Ont. This hotel marks the first of what will become a portfolio of new construction Studio 6 locations built in northern Ontario.
“The Studio 6 all-suite prototype has eye-catching curb appeal and features thoughtful, functional and efficient layouts with an interior design that is as guest-welcoming as it is comfortable,” said Irwin Prince, president & COO, Realstar Hospitality, Canadian master franchisor of Studio 6 and Motel 6 in Canada. “We look forward to increasing the Studio 6 footprint across Canada, filling a void for those seeking a longer stay in the upper-economy accommodation segment.”
Studio 6 and Studio 6 Suites provide an all-suite experience within the economy space. Ideal for value-conscious business and leisure road warriors in need of a full kitchen, but not in need of a hotel with a full-service restaurant or bar, geared towards the individual looking to stay three to seven days.
The extended-stay sector is less vulnerable to economic pullbacks and is in an excellent position to grow when the economy slows. Demand growth well outpaces supply growth, unlike other segments of the industry. With increased interest for transient markets, a multitude of locations across Canada would benefit from having a Studio 6.
As a franchisee, brand support extends well beyond operations. “We work side-by-side with our owners to provide an extensive range of services to help improve top-line revenues and maximize efficiencies,” said Prince. “Our full contingent of dynamic, Canadian-based team of hospitality professionals provide guidance and assistance in a variety of areas, including Training and Quality Assurance, Global and National Sales, Marketing and Advertising, Operations Support and Purchasing Excellence, Revenue Management and eCommerce.”
InnVest Hotels has acquired The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.
The new owners of the famed Windermere House hotel and resort on Muskoka’s Lake Rosseau intend to revitalize the building and its amenities while preserving the property’s historical integrity.
Proactive Hospitality has acquired the Coast Osoyoos Beach Hotel, B.C. CFO Capital arranged acquisition financing for the deal.
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