K2 Group has acquired the Holiday Inn Express & Suites hotel in Niagara Falls, New York. The deal marks the fifth Niagara Region hotel property, and first US hotel, for K2 Group’s growing hospitality portfolio.
“We are confident in the strength and continued growth of the Niagara Falls region as a popular, dynamic vacation and business-travel destination. We are excited to have found a great value-add hotel opportunity on the American side of Niagara Falls. This property is already one of the best performing hotels in the area and we expect to improve its performance even further with renovations, expected to be completed in Q4 of 2023,” said Kailash Kasal, president, K2 Group.
K2 Group plans to spend three million dollars (USD) to improve the four-storey property by renovating both the exterior and interior of the hotel, as well as upgrading all guestrooms to InterContinental Hotels Group’s (IHG) latest formula blue PIP standards.
Holiday Inn Express & Suites Hotel is located across the street from Niagara Falls International Airport, just six miles from downtown Niagara Falls. The hotel features a host of amenities that accommodate business and leisure travelers, including an onsite business center, heated indoor pool, fitness center, laundry facilities, 500 square feet of meeting space, and complimentary high-speed Wi-Fi.
“For more than three decades Holiday Inn Express has emphasized the power of simple, smart travel and a consistent and memorable experience that removes barriers for guests,” said Anto Vrdoljak, regional director, franchise sales & development – Canada at IHG Hotels & Resorts. “We are very excited to welcome K2 Group to the IHG family and look forward to working with their team on this project and more to come in the future.”