PHI Hotel Group expands its Alberta properties
Surrey based PHI Hotel Group has expanded its Alberta assets recently. The group has opened five hotels. In additon, it looking for further growth in the province.
Sukhi Rai, president of PHI, said, “The company has been a believer in Alberta for the past 15 years. We’ve seen ups and downs in Alberta, but with our large portfolio we have outperformed our underwriting. The product that we build, the product that we bring into the market, outperforms the rest of the market and captures more market share.”
He added that they have a property in Grande Prairie which they opened up a year ago. It’s one of the best performing Four Points in the country.
Edmonton South is the same scenario. Even through the recessions they’ve got two hotels that never did less than 80 percent even during the lowest times of oil. As long as you have the right product, he think Alberta hotels perform very well.
In addition, PHI Hotel Group has 24 properties in British Columbia and Alberta split evenly between the two provinces.
PHI Hotel Group has specialized in the ownership, management and development of hotels and related commercial real estate. Also, they have worked with many affiliated who their own and operate hotels in Bristish Columbia and Alberta. The hotel group was established in 2002.
Fulya Altunyay/ [email protected]