New Castle Expands Portfolio
Monday January 28th, 2013 - 9:49AM G
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SHELTON, CT—New Castle Hotels and Resorts, based here, will open four hotels in the next 18 months, expanding the rooms in the company’s portfolio by 20%.
The Algonquin Resort in St. Andrews by-the-Sea, NB, which is undergoing a $30-million reconstruction, will reopen in Q2 2013, marking the Canadian debut of Marriott’s Autograph Collection.
Portland’s Eastland Park Hotel is undergoing a $50-million renovation, after which it will be known as the Westin Portland Harborview when it opens in Q2 2014. New Castle teamed with Rockbridge Capital in this acquisition.
The new-build Inns at Armory Square, featuring a 78-room Residence Inn and a 102-room Courtyard by Marriott, in Syracuse, NY, will open in May. It is the city’s first new-build hotel in more than 50 years.
In addition, the Westin Jekyll Island Hotel, a 200-room oceanfront hotel in Jekyll Island, GA, will break ground later in Q1 2013.
Tags: • Hospitality • Construction/Renovation •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.