Hay River, N.W.T.
Property Facts & Highlights
- Substantially renovated hotel and conference centre in NWT's community of Hay River
- 45,000 Square Feet on 1.4 acre lot
- 3 separate conference rooms with space for 145 guests
- Two Food and Beverage Operations
- Commercial tenants
- $4,000,000 Gross Revenue in 2021
The Ptarmigan Inn is a full-service hotel that caters to a broad range of clientele. Constructed in 1966, the 45,000 square foot facility was acquired by the existing owners in 2005 and underwent a significant series of renovations that have provided an almost comprehensive refurbishment of the entire facility, the majority of which was completed in the preceding 8 years. Ptarmigan Inn is one of only a few facilities within Hay River that can accommodate 145 guests in comfort.
Hay River is the first major community on the AB-35N Highway from northern Alberta (the 35 becomes the Mackenzie Highway or Northwest Territories Highway 1). Originally used as a fishing site by First Nations, Hay River’s development, like many communities in the north, grew with the development of trading routes, resource exploration, transportation, missionary work, and more. Today Hay River is an active hub given its location and accessibility to road, rail, air and water transportation routes.
The Ptarmigan Inn is an excellent opportunity to acquire a high yielding hospitality operation. Well-managed and recently renovated, Ptarmigan Inn has a diversified range of operations, in addition to several non-hospitality tenants, providing excellent cash flow in a prime NWT location.