K2 Group acquires Quality Inn & Suites in Niagara Falls, Ontario
This acquisition marks the fourth in K2's growing hotel portfolio in Niagara Falls
TORONTO, April 19, 2022 /CNW/ - Canadian privately-held investment firm K2 Group today announced the acquisition of Choice Hotel Canada's Quality Inn & Suites in Niagara Falls, Ontario. The deal marks the fourth Niagara region hotel in the group's portfolio.
"K2 Group continues to grow its hospitality division of high-quality, well-located assets with strong demand generators, particularly in drive-to leisure markets like Niagara Falls, which attracts over 13 million visitors annually," says Kailash Kasal, President of K2 Group. "The hospitality industry is in a sustained recovery cycle, which is boosting hotel fundamentals. We continue to believe hotels, which are an effective inflation-hedging investment, will remain among the strongest real estate sectors for investing."
"K2 Group has acquired a premium hotel asset with 1.82 acres of land in the heart of one of the world's most famous cities," says Graham Marsh, Director of Franchise Development for Choice Hotels Canada. "We look forward to further growing our relationship with K2 Group as Niagara Falls is one of the great wonders of the world and will forever remain a global magnet for both domestic and international travellers."
This newly renovated 84-room property boasts many amenities that give it a strong competitive edge. Located in the heart of Ferry Street, minutes from Niagara Falls, Casino Niagara, Maid of the Mist, Clifton Hill and many other attractions, Quality Inn & Suites Niagara Falls is an ideal destination for business and leisure travelers alike. Guest amenities include premium bedding, a business centre, fitness facility, indoor swimming pool and hot tub as well as four restaurants on-site.
K2 Group holds investments under the umbrellas of hospitality, petroleum and senior living, and was recently recognized as one of Canada's Top Growing Companies for 2021 by the Globe and Mail's Report on Business Magazine and an Innovation Leader on the 2022 list highlighting Canada's Top 50 most progressive companies by Canadian Business.
K2 Group is a privately held fully integrated company that strategically acquires, develops, constructs and repositions hospitality, petroleum and real estate assets throughout Canada. We endeavour to deliver sustained above-market returns for our investors and partners by facilitating the flow of capital and knowledge to our projects. For more information on K2 Group, visit the company's website at www.k2group.ca.
Choice Hotels Canada is the nation's largest hotel franchisor with 340 properties currently open or under development. We are affiliated with Choice Hotels International, Inc., which franchises more than 6,800 hotels in 40 countries and territories worldwide. With more than 37 million members and counting, check out our Choice Privileges rewards program to see how you can reap the benefits of being a member of the Choice Hotels family. For more information on Choice Hotels Canada, visit the company's website at www.choicehotels.ca.
For more information please contact:
Michelle Easton
[email protected]
SOURCE K2 Group
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