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New Castle Hotels and Resorts Names Tim Ostrem as General Manager of the
Algonquin Resort in St. Andrews by-the-sea, New Brunswick in Canada

Currently Undergoing a $20 Million Renovation, the Hotel will Reopen
in Q2 2013 as Part of Marriott's Autograph Collection


SHELTON, Conn./ST. ANDREWS BY-THE-SEA, New Brunswick, Canada - - January 3, 2013 — Officials of New Castle Hotels and Resorts, a leading hotel owner, operator and developer, today named Tim Ostrem general manager of the Algonquin Resort in St. Andrews by-the-sea, New Brunswick in Canada.  New Castle, along with Halifax-based real estate developer Southwest Properties, purchased the landmark hotel from the provincial government in 2012 and is in the midst of a $20 million, floor-to-ceiling renovation.  It will reopen in the second quarter as part of Marriott’s Autograph Collection.

“Tim is an immensely qualified Canadian hotelier with years of experience repositioning hotels of this caliber,” said Gerry Chase, president and COO of New Castle Hotels and Resorts.  “His entire career has been spent leading complex, full-service hotels with multiple revenue streams and resort features.  I am confident that he will be just the kind of dynamic leader the Algonquin needs as it enters the next chapter in its storied history.”

“Of all of the hotels in Canada, there is none more recognizable than the Algonquin,” said Ostrem.  “For a Canadian hotelier, this is a once-in-a-career opportunity to have a positive impact on a national treasure. The Algonquin is part of our heritage and an important economic driver for the entire region surrounding Passamaquoddy Bay.  I can’t wait to reopen, welcome back old friends and introduce first time visitors to a new and improved Algonquin.”

Prior to joining New Castle, Ostrem served as general manager of the Cambridge Suites Hotel, Toronto’s first 4-diamond rated, all-suite, downtown hotel - and recognized with a TripAdvisor Travelers’ Choice Award in 2012 as one of the top hotels in Canada.  Earlier, he was the general manager for the Mayfield Inn and Suites, an upscale suite hotel, conference centre and dinner theater in Edmonton, Alberta, and as a general manager with Delta Hotels and Resorts, was honored with the Franchise Hotel of the Year award.  Ostrem earned his MBA from the University of Alberta and has been an active participant in numerous social and charitable endeavors, including the Salvation Army, Breakfast for Learning, and Elves Special Needs Society.

About New Castle Hotels & Resorts
Based in Shelton Connecticut, New Castle Hotels & Resorts is an award-winning independent third-party hotel manager, owner and developer with more than 29 hotels and resorts and nearly 5,000 rooms under contract or in development.  New Castle’s growing portfolio of hotels spans 10 states and three Canadian provinces and includes several of Canada’s historic landmark resorts.  The privately-held company was established by CEO, David Buffam in 1980 and consistently ranks among the top 100 hotel management and development companies in the United States.  New Castle is a preferred operator for diverse brands within the Marriott, Hilton and Starwood families. For additional information, please go to www.newcastlehotels.com.


Contact:

Lauralee Dobbins
Daly Gray, Inc.
703-435-6293
Lauralee@dalygray.com


 

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