The properties are for sale together or separately.
The Nova Scotia Tourism Agency posted a request for proposals May 7, for real estate broker services saying, “TNS’s objective is to hire a real estate broker firm with strong and proven hotel and resort expertise to assist in divesting the province’s interests in the ongoing ownership, operation and management of the two resorts either collectively or separately.”
Cushman and Wakefield Atlantic bills themselves as the largest commercial only real estate services company in Atlantic Canada. They have offices in all the Atlantic Provinces and Toronto.
The Tourism Industry Association of Nova Scotia expressed concern in June that the province’s RFP contained no requirement for a buyer to continue operating the Pines or Liscombe Lodge.
The province last tried, unsuccessfully, to sell the properties back in 2012.
Nova Scotia Business Minister Mark Furey says the two sites cost the province about $1.5 million a year.
The sales PDF says the Pines has brought in an average of $3.77 million since 2010 and has had an occupancy average of 55 percent and an average daily rate (ADR) of $136.
ADR is one of the commonly used financial indicators in hotel industry to measure how well a hotel performs compared to its competitors and itself year over year.
ADR is derived from the formula rooms revenue earned divided by number of rooms sold.
“Ideally positioned on the Evangeline Trail in the scenic town of Digby, Nova Scotia overlooking the Annapolis Basin, this historic retreat offers Nova Scotian accommodations in a Norman-style Chateau, as well as cozy cottages,” reads the listing online. “Getting to Digby Pines Golf Resort and Spa is easy, but once you’ve experienced the incredible hospitality, world-class resort amenities, and the unsurpassed natural beauty of the region, leaving is another story.”
Property features listed on the webpage include:
– grand dame of the Bay of Fundy, a classic full-service North Atlantic Inn
– 14 acres of un-utilized land at the Ocean’s shore
– built circia 1930, with several cottages added in subsequent years
– awards include 2013 2014 Best Place to Work in Atlantic Canada and TripAdvisor Certificate of Excellence from 2012-2014
– 63 acres at the resort, and 220 acres at the Stanley Thompson Golf Course
– timing of the new ferry schedule for 2015 allows guests to travel from Saint John, NB for one night’s stay and two rounds of golf
– outdoor heated swimming pool and two tennis courts
– Aveda concept spa
– 18 hole golf course designed by Stanley Thompson
– fitness centre and staff residences
jriley@digbycourier.ca
RELATED STORIES:
[Concern over sale language for Digby Pines, Liscombe Lodge, June 18]
Open all references in tabs: [1 – 7]