Historic Algonquin Resort in Saint Andrews under new ownership

Toronto-based InnVest Hotels has purchased the historic Algonquin Resort in the southwestern New Brunswick town of Saint Andrews.

Opportunities New Brunswick was given approval to provide up to $30 million in a repayable loan to the owners, Algonquin Resort LP, of which InnVest is the majority partner,according to an Order in Council document signed byNew Brunswick Lt.-Gov. Brenda Murphy.

Jeff Hyslop, asenior vice-president with InnVest, said in a recent interviewthe resort is a great addition to the company's portfolio and is the first one with a golfcourse.

Hyslop said the initial plan for renovations will be focused on staff areas.

"We're actually looking at expanding our offering of staff housingbecause in order for a resort like this to be successful, ensuring we can continue to attract top quality staff is going to be paramount for us," he said.

The company will also be doing a "soft goods" renovation of the existing hotel, which will include things like carpets, curtains and bedding, said Hyslop.

He said this renovation will not be a major disruption to business operations.

In 2012, the provincesold the Algonquin to New Castle Hotels and Resorts and Southwest Properties. The government provided a $21-million repayable loan to those companiesandmajor renovations were done to the building, well over a century old at that time.

Those renovations lasted nine months and the hotel reopened in 2014.

Brad Henderson, the mayor of Saint Andrews, said although he didn't live in the community at the time, he knows the temporary closure of the hotelhad a "dramatic impact" on the local business community.

He said it was also tough on students graduating from the hospitality program at the local campus of the New Brunswick Community College, as the hotel was a major employer.

"If you look at all the groups and conferences and things that come to our community, that's so vital to our tourism and drawing numbers in our shoulder season. They all do stay at the Algonquin Resort," said Henderson.

"A successful Algonquin is a successful Saint Andrews and a successful Saint Andrews is a successful Algonquin."

Henderson met with InnVest in April to talk about the sale and said he was excited to hear about the plans to elevate the staff experience because it "bodes well for attraction, recruitment and of course, retention."

The Algonquin has hosted Canadian prime ministers, including the country's first, as well as U.S. president Theodore Roosevelt and then Prince Charles and Princess Diana during their 1983 visit to Canada.

It also served as a stop on the Amazing Race Canada in 2016.

"They're all part of a community effort to really try to put ourselves on the map," said Henderson. "We're looking forward to this next chapter with the new ownership of continuing to do that, if not, obviously elevate it to a new high."