Real estate investor Oxford Properties Group has acquired The Rimrock Resort Hotel in Banff, Alberta, and announced a deal with Accor to invest in and manage the iconic property.
The property will undergo a comprehensive top to bottom renovation beginning in 2024, and will continue to operate throughout the renovation period.
Oxford says the investment "will enhance the luxury experience available to guests in Banff National Park, improve the environmental sustainability of the hotel, and amplify The Rimrock's distinctive location in the famed Canadian Rockies."
Located on Sulphur Mountain in Banff National Park, The Rimrock Resort Hotel is just four kilometres south of the picturesque town of Banff. With a rich history dating back to 1884, the property is considered one of the premier hotels in the world-renowned destination.
The Rimrock Resort is located within Banff National Park. (Don White/E+)
Since its opening, The Rimrock has transformed from a two-story, six-room hotel to a property boasting over 330 spacious guestrooms, including 24 luxurious suites, many featuring panoramic views of the Bow Valley.
The resort also includes a range of amenities such as 18,000 square feet of event space, a 9,000 square foot spa, an indoor pool, four restaurants and bars, including the Five Diamond designated restaurant 'Eden,' a fitness centre, and a seasonal ice-skating rink.
Accor and Oxford's respective presences in Canada feature portfolios of world-renowned resorts and hotels. Oxford's Western Canada resort hotel portfolio comprises Accor-managed properties Fairmont Banff Springs, Fairmont Chateau Lake Louise, Fairmont Jasper Park Lodge and Fairmont Chateau Whistler.
Accor's collection of famed Canadian hotels also includes such historic properties as Fairmont Empress in Victoria, Fairmont Le Chateau Frontenac in Quebec City, Fairmont Royal York in Toronto and Fairmont Hotel Vancouver.
"We are very excited to acquire this extremely unique resort within the vibrant, high barrier to entry Banff market. Our acquisition of The Rimrock speaks to our long-term conviction in Canada's luxury resort hotel market, where we have meaningful scale," commented Tyler MacDonald, Head of Hotels and Alternatives at Oxford Properties.
"It also grows our important relationship with Accor, offering world class resort experiences in renowned destinations across Western Canada."
Mark Purcell, Senior Vice President, Development, North & Central America for Accor, said: "With The Rimrock Resort Hotel, we officially mark our 30th property in Canada, further extending our offerings for Accor guests, from the landmark properties of Fairmont Hotels & Resorts, a globally celebrated luxury brand with roots that run deep from coast to coast, to the unique stories told by the MGallery Hotel Collection, to our family- and business-friendly Novotel properties.
"We are thrilled to continue the Group's growth in North America, and further our longstanding relationship with Oxford with this exceptional addition to our Accor portfolio. Already a tremendous property, we can't wait to unveil what is to come."
Planning and design for the renovation project will begin immediately, with work anticipated to begin next year.
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