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.