TORONTO — K2 Group, a privately held investment firm, has acquired Choice Hotel Canada’s Quality Inn & Suites in Niagara Falls Ont., marking the fourth Niagara region hotel in the group’s portfolio. The newly renovated 84-room property boasts premium bedding, a business centre, a fitness facility, an indoor swimming pool and hot tub, as well as four on-site restaurants.
“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.”