Siksika Resource Developments Ltd. (SRDL) finalize partnership investment with Pomeroy Lodging Group (AB) on 3 Hotel and Conference Centre Properties in British Columbia and Kananaskis Mountain Lodge, Alberta
SRDL Business Group via Siksika Hospitality Holdings LP (SHHLP) announce partnership with Pomeroy Lodging (Grande Prairie, AB) acquiring equity interests in 3 properties in Kelowna, Fort St. John, and Prince George British Columbia and the newly renovated Kananaskis Mountain Lodge (formerly the Delta Kananaskis) in Alberta.
Tom Many Heads, SRDL Business Group President and CEO, spoke about the new and exciting partnership that further highlights SRDL’s strategic direction of optimizing sustainable business and investment opportunities. “In addition to developing properties in Calgary and Edmonton with PAL Hospitality, in 2017, SRDL also engaged in discussions another industry partner, Pomeroy Lodging, based out of Grande Prairie, Alberta with a focus on participating in other unique market places in Alberta and BC. As a result, in 2018 SRDL acquired equity interests in three BC properties in Prince George, Fort St. John and Kelowna, Two of three of these interests are cash flowing entities already with a new build set to open December 2018.
As a capstone to the hospitality journey to date, SRDL and Pomeroy closed the deal on the Kananaskis Lodge Resort, Marriott Collection in August 2018. a major renovation has transformed and revitalized the property to a pre-imminent world class destination at the foot of the Rocky Mountains, all within Blackfoot traditional territory”
Both parties signed an MOU in early 2017 outlining a potential partnership resulting in 4 identified investment opportunities. In September Siksika Nation Leadership, SRDL Business Group Management and Board of Directors, and Pomeroy Lodging Management met to finalize the notable partnership at the Pomeroy Kananaskis Mountain Lodge.
The announcement expands SHHLP’s current portfolio of 3 hospitality investment properties that include the Westin Calgary Airport Hotel & Conference Centre, Four Points by Sheraton – Element by Marriot West Edmonton, and West Edmonton Conference Centre, to a now total of 7 distinct properties focused on participating in unique markets across Alberta and British Columbia. Profit from the joint investment with Pomeroy Lodging Group is forecast to be $26.2 Million after 5 years, more than double the initial investment that has been contributed by SSHLP.
Properties in British Columbia include the Best Western Plus Kelowna Hotel & Suites, offering first-class accommodations in Kelowna, BC with 176 guest rooms that include 1 & 2-bedroom Kitchen Suites, along with a 5,910sq ft conference and banquet facilities, catering services, fitness facility, heated indoor pool, and spa.
Holiday Inn Express Fort St. John which opened in 2014 and is currently Fort St. Johns newest Hotel Property. The 99-room hotel is well-located in the booming hub community of Fort St. John, BC.
Pomeroy Inn & Suites - Prince George, BC which is scheduled to open in November 2018 with 124 luxury suites and hotel amenities such as a dual slide waterpark. The new property is expected to be very successful within the town of Prince George, the largest market in Northern British Columbia that is forecast to see future growth and economic expansion.
The Kananaskis Mountain Lodge, which recently underwent a $34 Million major renovation to that allowed the property to operate under Marriott Hotels Autograph Collection Brand. The Resort offers 247 guest rooms & suites, amenities that include a Nordic spa, and easy access to Banff and Calgary making the resort a world class destination at the foot of the Rocky Mountains.
As a capstone to the hospitality journey to date, SRDL acquired equity interest in the Kananaskis Lodge Resort, Marriott Collection in August 2018. Formerly the Delta Kananaskis, a major renovation has transformed and revitalized the property to a pre imminent world class destination at the foot of the rocky mountains, all within Blackfoot traditional territory.