SHELTON, CT — New Castle Hotels and Resorts, a hotel owner and developer with 25 properties in North America, is set to expand its Canadian footprint with a new partnership with Toronto-based Full-G Capital.
By teaming up with the hospitality real estate investment firm, New Castle hopes to balance out its North American portfolio through development, acquisition and new management contracts for select and full-service hotels in Canada.
The company currently has seven hotels in Atlantic Canada and Toronto, with two more – Residence Inn/Courtyard by Marriott Dartmouth – slated for an early 2019 opening. In total, New Castle has eight hotels in active development (six in the U.S. and two in Canada).
“This partnership leverages the development and operational strengths of New Castle and Full G’s deep resources and proven investment platform,” said Jeremy Buffam of New Castle Hotels & Resorts. “Together we are well positioned to move forward in the dynamic and competitive Canadian market.”
Drew Coles, founder and CEO of Full-G Capital, added: “Full-G has a big appetite for hotel real estate investments that can deliver outstanding returns. New Castle has a 30-year track record of hotel management success in Canada starting with the world’s first Westin franchise, the Westin Nova Scotian. This is the type of organization that fits Full-G Capital perfectly.”