— Acquisition marks the fifth in K2’s rising hospitality portfolio in Niagara Region —
TORONTO, Sept. 26, 2022 /PRNewswire/ – K2 Group, a number one Canadian funding agency, in the present day introduced the acquisition of the Holiday Inn Express & Suites lodge at 10111 Niagara Falls Boulevard in Niagara Falls, New York. The deal marks the fifth Niagara Region lodge property, and first US lodge, for K2 Group’s rising hospitality portfolio.
“We are confident in the strength and continued growth of the Niagara Falls region as a popular, dynamic vacation and business-travel destination. We are excited to have found a great value-add hotel opportunity on the American side of Niagara Falls. This property is already one of the best performing hotels in the area and we expect to improve its performance even further with renovations, expected to be completed in Q4 of 2023,” stated Kailash Kasal, President, K2 Group.
K2 Group plans to spend three million {dollars} (USD) to enhance the four-story property by renovating each the outside and inside of the lodge, in addition to upgrading all guestrooms to InterContinental Hotels Group‘s (IHG) newest method blue PIP requirements.
“This acquisition is a testament to the success of K2 Group’s core hospitality investment strategy of purchasing and then developing and repositioning well-situated hotels in high-growth markets,” added Kasal.
Holiday Inn Express & Suites Hotel is situated throughout the road from Niagara Falls International Airport, simply six miles from downtown Niagara Falls. Situated close to a number of native vacationer sights, the lodge gives company shut entry to Seneca Niagara Resort & Casino, Niagara Falls State Park, Niagara Aerospace Museum, the Fashion Outlets of Niagara Falls, and Niagara Falls Air Force Reserve Station. Several eating, retail and leisure institutions are additionally situated inside a brief distance of the property.
The lodge includes a host of facilities that accommodate business and leisure vacationers, together with an onsite business heart, heated indoor pool, health heart, laundry amenities, 500 sq. ft of assembly area, and complimentary high-speed Wi-Fi.
“For more than three decades Holiday Inn Express has emphasized the power of simple, smart travel and a consistent and memorable experience that removes barriers for guests,” stated Anto Vrdoljak, Regional Director, Franchise Sales & Development – Canada at IHG Hotels & Resorts. “We are very excited to welcome K2 Group to the IHG Family and look forward to working with their team on this project and more to come in the future.”
“Our city is pleased to welcome K2 Group to our business and hospitality communities. As one of Canada’s top investment groups, their proven track record and development plans for the Holiday Inn Express & Suites will further enhance the visitor experience in Niagara Falls, USA,” stated Robert Restaino, Mayor, Niagara Falls, New York.
K2 Group continues to pursue alternatives in North America to develop its hospitality portfolio, with an emphasis on focusing on strategic, value-add lodge offers that supply potential for above-market returns via funding in property upgrades and environment friendly administration.
With investments beneath the umbrellas of hospitality, petroleum and senior residing, K2 Group was just lately acknowledged each as one among Canada’s Top Growing Companies in 2022 by Globe and Mail‘s Report on Business Magazine and an Innovation Leader on the 2022 record highlighting Canada’s Top 50 most progressive firms by Canadian Business.
About K2 Group
K2 Group is a privately-held, totally built-in funding firm that strategically acquires, develops, constructs and repositions hospitality, petroleum and actual property property all through Canada. We endeavour to ship sustained above-market returns for our buyers and companions by facilitating the circulate of capital and information to our initiatives. For extra info on K2 Group, go to www.k2group.ca.
About Holiday Inn Express
For vacationers on the go, Holiday Inn Express gives extra the place it issues most – a fantastic evening’s sleep with our Restful Recharge program, targeted service from real folks, and the Express Start breakfast included in the speed, all designed to assist company really feel greater than prepared for his or her day. As the quickest rising model for IHG Hotels & Resorts, Holiday Inn Express goals to allow actual, human connections for our company by offering a easy, sensible journey expertise. For extra info, go to www.holidayinnexpress.com.
For extra info, please contact:
Michelle Easton
[email protected]
SOURCE K2 Group
