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New Castle group to expand portfolio in US and Canada

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Hotel Group New Castle Hotels and Resorts plans to extend its portfolio with four openings across the US and Canada over the next 18 months.

The US-based group, which owns and manages hotels, will reopen the Algonquim Resort in New Brunswick, Canada as a Marriot Autograph Collection branded hotel, the first in Canada.

New Castle acquired the resort in April of 2012 and is undertaking a US$30m (£19.1m, 22.3m euro) reconstruction that will be completed in Q2 2013.

Other openings include the Residence Inn and Courtyard by Marriott, which are nearing completion in Syracuse's Armory Square, New York, US and a new Westin is ready to break ground in Jekyll Island, Georgia, US.

The Westin Jekyll Island Hotel, a 200-room oceanfront hotel, will break ground later in Q1 2013 and will become the anchor hotel for Jekyll Island's new convention centre, which was completed in May 2012.

The Inns at Armory Square, scheduled to open in May 2013, will feature a 78-room Residence Inn and a 102-room Courtyard by Marriott under one roof.

Elsewhere, Portland's Eastland Park Hotel is undergoing a US$50m (37.2m euro, £32m) renovation to open as the Westin Portland Harborview in Q2 2014. New Castle teamed with Rockbridge Capital in this acquisition.

David Buffam, CEO, New Castle Hotels and Resorts said: "There are opportunities in every cycle, and we spent considerable time during the downturn strategically sourcing deals that would come online as the market regained full steam.

"Those hotels, including new builds, historic renovations, luxury resorts and a select service combination property will expand the rooms in our portfolio by 20 percent. We also have a substantial pipeline of diverse projects that will mature as the year progresses."

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Hotel Group New Castle Hotels and Resorts plans to extend its portfolio with four openings across the US and Canada over the next 18 months.
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