SUMMERSIDE, P.E.I. — The final piece of the puzzle is now in place, say City of Summerside staffers, following the announcement Tuesday of the development of a hotel at Credit Union Place (CUP).
"The CUP is one of the finest facilities of its type in Atlantic Canada, not just the facility itself, but by the way the community promotes it," said Glenn Squires, CEO of Caboteer Hospitality and Developments Inc., the company responsible for developing the privately funded project.
Caboteer is a Bedford, N.S.-based business and an affiliate company of Crescita Hotels and Resorts LP and Pacrim Hospitality Services Inc.
The new facility, a Microtel by Wyndham Hotel (MasterBUILT Hotels Ltd.), is estimated to cost around the $16 million range, but the final numbers have not been determined, said Squires.
He compared the select-service, mid-scale facility to that of a Holiday Inn Express.
The facility, which will be connected to the Credit Union Place through a breezeway, will have 100 rooms and be located on the southwest portion of the CUP grounds. The project is expected to be completed by spring 2021.
It's been a project years in the making, said director of community services JP Desrosiers.
"We've been working with Glenn on the project for about two years. But it's something that's been discussed for even longer.
"We've been actively looking for the right developer with the right mindset to build a hotel on this flagship facility," said Desrosiers.
He described the announcement as one of the best days he's had with the city.
When asked if there was a fear the new hotel would take away business from already existing hospitality facilities, he said no.
"We've seen across Atlantic Canada of what a facility like this can do for others, in tourism and otherwise, in the community. It will promote other markets."
Summerside Mayor Basil Stewart agreed.
"It will generate a lot of activity and functions at the CUP and help other hotels in the area. There will be the benefit of additional functions."
Squires said he had been approached to develop a facility on the Island multiple times, but they weren't the right fit.
The estimation of how the community would support the project was key to the decision, he added.
"The difference was the CUP and the demand it would create through the November to April, May seasons. We brought in a third party to do a study and they confirmed what we thought. We believed that we weren't just investing but creating open support in investing and creating new events at Credit Union Place."
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