Posted Jun 4, 2013, 3:00 AM
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Halifax Promoter!
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Join Date: Jul 2012
Location: Halifax
Posts: 1,108
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Pacrim Hospitality Services is associated with these hotels :
Radisson
Crowne Plaza
Best Western
Embassy Suites Hotels
Holiday Inn Express
Holiday Inn
Candlewood Suites
Wingate by Wyndham
Super 8
Hampton Inn & Suites
An article to appear in the Chronicle Herald on Tuesday states that they are interested in building in downtown Halifax, here is the article.
Hotel companies split the bill
3 hours ago
REMO ZACCAGNA Business Reporter
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A partnership between two hotel management companies could see the construction of $100 million in new hotels in Atlantic Canada in the next five years.
The joint venture announced Monday means Pacrim Hospitality Services Inc. of Bedford and Driftwood Hospitality Management, LLC of Miami will target new growth opportunities across Canada, but particularly on the Atlantic coast.
New 100- to 300-room full-service and extended-stay properties are being planned in the Bedford-Sackville area, as well as near Fredericton, Argentia, N.L., St. John’s, N.L., Goose Bay, N.L., and Golden, B.C.
“We have agreements in all of these markets,” Pacrim chief executive officer Glenn Squires said in a telephone interview from New York City, where he is attending the NYU International Hospitality Industry Investment Conference
“We’ve identified partners … to go ahead.”
After that, the companies will look for additional growth in emerging markets in South America and the Middle East, as well as further United States expansion.
Pacrim, for example, recently entered agreements for the development of a 250-room InterContinental hotel at Muscat Hill Golf & Country Club and a 110-room luxury seaside resort in Muscat, Oman.
But it was the opportunity to expand to Canada that sealed the deal for Driftwood, said Brian Quinn, the company’s executive vice-president of development.
“We will focus in the Middle East and South America, and in North America as well, but the first few deals that are going to get us off the ground are going to be new-build projects in Canada,” Quinn said from New York City, also attending the conference.
Canada’s relatively strong economic fundamentals and robust energy sector are two factors that piqued the company’s interest, he said.
“The skies look blue to the north.”
Conversely, it was Driftwood’s reach in the U.S. that caught Pacrim’s attention because just three of the company’s 46 hotels are south of the border.
“It gives us a larger platform in the United States; we’re currently looking at acquisitions,” Squires said. “It gives us additional infrastructure and reach for new developments in Canada.
“As we pursued it, it just made a lot of sense that we could leverage off of each other’s scale and scope and areas of expertise and build our platforms.”
Outside of the Bedford-Sackville project, he said the company is planning to build two more Halifax-area properties. Squires declined to give specific locations, although he didn’t rule out at least one of these being downtown.
“I believe there’s an opportunity now to go back more to two types of properties. We want to focus on extended-stay and more full-service hotels, which are hotels that have meeting space and restaurants and bars and that kind of stuff.”
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