The historic Algonquin Resort in Saint Andrews is now under new ownership.
Ontario-based InnVest Hotels has acquired the hotel and golf course, the company announced Tuesday.
The company said it plans to upgrade guestrooms, common areas, and amenities at the property.
“This property is an iconic east coast destination and a key addition to our portfolio as we expand our footprint in the resort segment,” CEO Lydia Chen said in a news release.
“Working collaboratively with our stakeholders, we will enhance every aspect of the guest experience, creating an unforgettable stay throughout all seasons of the year.”
The resort will be owned by the newly-formed Algonquin Resort LP. InnVest will be the majority partner along with other limited partners including several New Brunswickers.
InnVest already owns six hotels in New Brunswick, including the Hilton Saint John, Delta Beausejour in Moncton, and Comfort Inn locations in Moncton, Fredericton and Edmundston.
The Algonquin is the third resort the company has acquired since early 2022 and the first golf course.
In addition to its 233 guestrooms, the resort has a 72-par golf course, meeting space, four food and beverage outlets, a full-service spa, an indoor and outdoor pool, and a fitness centre.
The Algonquin Resort first opened its doors in 1889, according to its website. Most of the original hotel’s wooden structure was destroyed by fire in 1914.
The resort re-opened in 1915 after being rebuilt. It underwent a $3.7-million expansion in 1991 and a $6.3-million expansion two years later.
Another renovation worth more than $30 million saw the hotel close its doors from 2012 to 2014.
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