June 28, 2023

InnVest Hotels Announces Acquisition of The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course

Toronto, June 27th, 2023 – InnVest Hotels (“InnVest”), Canada’s leading hospitality company, is pleased to announce the acquisition of the iconic Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course.  Located in the heart of the picturesque resort town of St. Andrews by-the-Sea, The Algonquin Resort has a long and rich history of delivering exceptional guest experience.  Situated along the Bay of Fundy in southwestern New Brunswick, the resort benefits from a region known for its world-renowned scenic views, high tides, and serenity.  The charming resort spans over 220 acres, features iconic architecture, and modern amenities.  In addition to the 233 guestrooms, the resort features a 72-par award-winning golf course, 21,673 sq. ft of flexible meeting space, four food & beverage outlets, full-service spa, indoor and outdoor pool, and a fitness centre.

This strategic move marks an exciting expansion for InnVest, adding the third resort since early 2022 and the first golf course.

The hotel will undergo a multi-faceted renovation to elevate the guest experience to new heights, while staying true to its rich history.  InnVest’s unwavering commitment to exceptional guest experience will be evident in the upgraded guestrooms, improved common areas, and enhanced amenities.

“We are delighted to announce the acquisition of the historic The Algonquin Resort St. Andrews by-the-Sea, Autograph Collection and The Algonquin Golf Course,” said Lydia Chen, CEO of InnVest Hotels. “This property is an iconic east coast destination and a key addition to our portfolio as we expand our footprint in the resort segment.  Working collaboratively with our stakeholders, we will enhance every aspect of the guest experience, creating an unforgettable stay throughout all seasons of the year.”

The hotel will be managed by iHotels Management.  The acquisition will be InnVests’ second Autograph Collection property after the Hotel Saskatchewan, Autograph Collection in Regina in 2015.  The resort will be owned by the newly formed Algonquin Resort LP with InnVest as its majority partner along with other limited partners including several New Brunswickers.  The acquisition aligns with InnVest’s vision to curate exceptional hospitality experiences that cater to the evolving needs and desires of modern guests on an international scale. InnVest’s acquisition is a testament to its unwavering pursuit of excellence in the hospitality industry.  The company’s portfolio includes a diverse range of exceptional properties in Canada and the United States, from roadside inns to luxury urban properties.

About InnVest Hotels

InnVest Hotels is the leading player in Canada’s hospitality industry, specializing in asset management, construction, and hotel operations.  InnVest’s extensive portfolio consists of more than 85 hotels, encompassing globally renowned hotel brands.  With our skilled management team overseeing the daily operations of 75 hotels, InnVest proudly stands as the largest owner and operator of hotels in Canada. Visit us online for more about InnVest Hotels.

For further information:

Jeff Hyslop
Senior Vice President, Asset Management & Investments
Email: media@innvesthotels.com
Website: innvesthotels.com