Intelligence
Canada hotels record first occupancy decline in three months
After three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy, according to CoStar’s July 2024 data.
News
Oxford Properties acquires The Rimrock Resort Hotel in Banff
Oxford Properties has acquired The Rimrock Resort Hotel (‘The Rimrock’) in Banff, Alta. and hospitality group Accor has signed on to operate the hotel.
Comprising 5,400 properties and 10,000 food and beverage venues throughout 110 countries, Accor has partnered with Oxford to operate The Rimrock, effective immediately. The property will undergo a comprehensive top-to-bottom renovation to transform the hotel, as part of a significant investment by Oxford and its capital partner; the hotel will continue to operate throughout the renovation period. 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.
In the interim, The Rimrock Resort Hotel is open and accepting reservations at rimrockresort.com, welcoming guests to enjoy the hotel’s spectacular location, upscale rooms, popular amenities and unparalleled views of the Canadian Rockies. Idyllically 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.
Since its opening, The Rimrock has transformed from a two-story, six-room hotel to a preeminent property boasting over 330 spacious guestrooms, including 24 luxurious suites, many featuring stunning panoramic views of the majestic Bow Valley, as well as 18,000 square feet of event space. The resort also includes a range of amenities such as 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 exceptional portfolios of world-renowned resorts and hotels. Oxford’s iconic 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 Château Frontenac in Quebec City, Fairmont Royal York in Toronto and Fairmont Hotel Vancouver.
With the addition of The Rimrock Resort Hotel to their prestigious collections, Accor and Oxford are able to offer travellers another compelling invitation to visit one of Canada’s most renowned locations. “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,” says 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.”
The second largest luxury operator in North America, Accor is globally renowned for the Group’s luxury and upper upscale brands, including Fairmont, Emblems Collection, Raffles, Orient Express, Sofitel, MGallery Hotel Collection, and more. Planning and design for the renovation project will begin immediately, with work anticipated to begin in 2024. Reservations at The Rimrock Resort Hotel are available for booking at rimrockresort.com.
