Northampton Group Inc.
TSX VENTURE : NHG
TSX VENTURE : NHG.DB

Northampton Group Inc.

August 25, 2011 08:00 ET

Northampton Breaks Ground on New Hotel

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2011) - Northampton Group Inc. (TSX VENTURE:NHG)(TSX VENTURE:NHG.DB), an integrated Canadian hotelier, announced that it has begun construction of its newest hotel, in the high-end retail and commercial development at Vaughan Mills, just north of Toronto.

"The past two years have seen gradual improvement in the hotel market," said Vinod Patel, President and CEO of the Northampton Group. "Management felt that the timing was right to take advantage of both this upward move and a perceptible easing in the credit market, which has enabled us to finance construction cost-effectively."

Northampton's plans call for a $16 million, 130-room hotel competing in the premium mid-scale market, serving both leisure and commercial customers from its anticipated opening in early 2012. The expectation is that the new hotel will be one of Starwood Hotels and Resorts Worldwide, Inc.'s Vision of W Hotels series, the aloft brand, which has been very successful for Northampton at its Dorval, Quebec, site – from which the brand was first launched globally.

With this branding, the new hotel will offer a hip, slick design with a bright and modern feel. It will provide intuitive technology access throughout, featuring atmospheric and appealing open spaces to give guests a sense of engagement and community. Guest rooms will boast nine-foot ceilings and huge windows, along with platform beds and stylish bathrooms with oversized, walk-in showers and spa amenities. The overall effect is clean and crisp, with a youthful flair.

The aloft Vaughan Mills is the second entry in Northampton's strategic development initiative, developed and built in conjunction with the Silver Hotel Group.

About Northampton

Northampton Group Inc. is an integrated Canadian hotelier with ownership and management interests in 2,002 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 consistently excelled in this sector, offering services that exceed expectations while still posting industry-leading margins.

Disclaimer:

This news release contains forward-looking statements within the meaning of the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Northampton's results to differ materially from expectations. Such risks may relate to hotel performance, market fluctuations, investee performance, and other risks more fully described in the Company's annual report, posted on the Company's website and on SEDAR. These forward-looking statements speak only as of the date hereof. Northampton Group disclaims any intent or obligation to update these forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Northampton Group Inc.
    Vinod Patel
    President and CEO
    905-629-9992