The Algonquin Resort is a historic landmark hotel located in St. Andrews, New Brunswick, Canada. It has been a popular destination for tourists and locals alike for over 130 years.
However, the question of who owns this grand hotel has been a topic of much speculation and interest. Let’s delve into the history of ownership of The Algonquin Resort.
Early Ownership
The Algonquin Resort was first opened in 1889 by the St. Andrews Land Company, a group of local businessmen who saw the potential for tourism in the area. However, due to financial difficulties, the company sold the hotel to the Canadian Pacific Railway (CPR) in 1903.
Canadian Pacific Railway Ownership
Under CPR ownership, The Algonquin Resort experienced significant growth and became a popular destination for wealthy travelers from around the world. In 1970, CPR sold The Algonquin Resort to Fairmont Hotels and Resorts.
Fairmont Hotels and Resorts Ownership
Fairmont Hotels and Resorts owned The Algonquin Resort from 1970 to 2014. During this time, they invested heavily in renovations and upgrades to maintain its status as a premier luxury hotel. In 2013, Fairmont announced that it would be selling The Algonquin Resort.
Marriott International Ownership
In 2014, Marriott International acquired The Algonquin Resort from Fairmont Hotels and Resorts for an undisclosed amount. Marriott continued with renovations while also maintaining its historic charm.
Ocean Properties Hotels & Resorts Ownership
In October 2018, Ocean Properties Hotels & Resorts announced that they had acquired The Algonquin Resort from Marriott International. Ocean Properties is a privately-owned hotel management company based in Florida with over 100 hotels under its management worldwide.
Conclusion
Ownership of The Algonquin Resort has changed hands several times over the past century, from local businessmen to CPR, then to Fairmont Hotels and Resorts, followed by Marriott International, and finally to Ocean Properties Hotels & Resorts. Today, The Algonquin Resort remains a beloved landmark in St. Andrews, New Brunswick, attracting visitors from all over the world who come to enjoy its luxurious amenities and historic charm.