CURRENT NEWS
Mar 17 2009
Hampton Inn St. John Resists Slowing Economic Conditions
The Hampton Inn St John, a 118 room limited service hotel, performed well in 2008 despite current economic conditions. Located in St. John, New Brunswick (Canada), the hotel achieved 95% of the projected occupancy, with a 2008 occupancy of 61 percent. St. John has recently experienced significant development growth pertinent to their core energy industry. Construction and operations of various mega energy facilities is generating hotel demand to support occupancies at the Hampton Inn. Additionally, the project has limited competition from similar quality lodging products in the area. The hotel’s 2008 performance substantiates Innovest’s lodging strategy to build and stabilize limited service hotels in secondary markets that are positioned to capitalize on the region’s industry demand drivers.