#joint venture#Southwest Properties#New Castle Hotels & Resorts#Marriott#Algonquin Hotel and Resort#Algonquin Hotel

Algonquin Hotel Sold; to Become Marriott

|Mar 23|magazine8 min read

 

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.

 

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"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."