Northampton Group Inc.

Northampton Group Inc.

February 20, 2008 08:35 ET

Northampton Acquires Land for New Vaughan-Area Hotel (Toronto North)

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2008) - Northampton Group Inc. (TSX VENTURE:NHG)(TSX VENTURE:NHG.DB), an integrated Canadian hotelier, announced its purchase of land for a new hotel to be situated in the Vaughan area, north of Toronto. The Company proposes to develop this project with its joint venture partner, Silver Hotel Group. The new property is located along Highway 400, adjacent to the Vaughan Mills Shopping Centre and Canada's Wonderland, and is surrounded by commercial and industrial parks. The site is ideal for a hotel development.

The new hotel is part of a strong strategic development initiative begun by Northampton/Silver with the building of the previously announced "aloft by Starwood" hotel in Dorval, Quebec, at Montreal's airport. The Dorval hotel is to be completed in mid-2008; The Vaughan hotel is targeting commencement of construction by the third quarter of 2008.

The Vaughan hotel is soon to be licensed with a major franchise; the Company is looking for a youthful brand with a sophisticated urban feel.

"Northampton is intent on following commercial growth and expanding into under-serviced areas," said Vinod Patel, President and CEO of the Northampton Group. "Vaughan offers robust business activity and strong appeal for young, active, family travelers, and we see our new hotel fulfilling this demographic need."

About Northampton

Northampton Group Inc. is an integrated Canadian hotelier with ownership and management interests in 2,064 rooms in 16 hotels, with a selective strategic development program in place. Focused on creating the best return for all stakeholders, Northampton's proven, market-sensitive strategy is to acquire or build hotels that provide superior overnight accommodation in the mid-price market. Northampton has demonstrated that it excels in this sector, offering services that exceed expectations while still posting industry-leading margins.

The Canadian Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Northampton Group Inc.
    Vinod Patel
    (905) 629-9992