OTTAWA, Feb. 18, 2014 /CNW/ - Minto Properties Inc. today announced its decision to narrow the
company's hospitality focus, and accordingly will transition the Minto
Suite Hotel to a premium unfurnished and furnished rental property
commencing April 2014. The re-positioning of the award-winning
property, which opened its doors 25 years ago, marks a strategic shift
to provide greater alignment with the company's growth strategy.
"Our business has evolved beyond its roots, with Minto expanding its
footprint nationally," said Michael Waters, Chief Executive Officer,
The Minto Group. "This requires us to focus on what we do best and that
means making some tough decisions to get out of specific lines of
business - ones we are very proud of - but which no longer support our
overall business objectives."
Growth, geographic diversification and delivering quality continue to be
the pillars that guide the company and fuel its success within Ottawa
and across Canada. Alongside the company's thoughtful stewardship of a
family legacy, Minto's leadership continues to focus on growing the
The Minto Suite Hotel currently houses 255 hotel suites and 163
furnished suites. During the transition, hotel operations will
continue, complemented by a mix of furnished suites and unfurnished
residences. By late fall 2014, the transition will be complete with the
hotel suites converted to a mix of premium unfurnished residences and
Due to this decision, there will be reductions in company staffing
levels. However, more than half of the current 97 employees will be
retained and re-assigned to other roles within the Minto organization.
Staffing reductions will take place in phases, beginning spring 2014,
with the majority of departures occurring in late fall 2014. These
departures will be planned according to the speed of the renovations
which are scheduled to begin in March. It is expected that the first
new unfurnished rental suites will be ready for occupancy in early
"We understand this decision will have an impact on our staff, customers
and suppliers," said Waters. "I want to thank each of them for
their service and support over the past 25 years and wish to assure
them we will do all we can to assist them through the transition."
To ease the transition for employees impacted by the change and help
them find alternate employment both inside and outside of Minto, all
will be given ample notice of their expected departure date and will be
provided with financial support, a job search program and career
During the transition phase of the hotel, Minto is committed to
accommodating reservations of all groups and individuals. Existing
bookings for hotel, meeting rooms and other contractual obligations
will be honoured based on the transition plan. In the event where a
booking is in conflict with the transition, the Minto team will take
every necessary measure to move and accommodate the group or the
individuals with partner hotels at the most attractive rate available.
The change in use of the hotel will mean a significant increase in the
number of new, full-time residents of the award-winning Minto Place.
The Minto team anticipates the retailers within Minto Place will feel a
positive impact as a result of this change.
Minto, and the Greenberg family, have been an integral part of the
Ottawa community for nearly 60 years. Headquartered in Ottawa, with 830
of its 1,240 employees based there, Minto has strong values, the
commitment of a family-owned enterprise and is deeply rooted in doing
the right thing for the community.
Some of The Minto Group's recent milestones include a partnership with
the City of Ottawa in the revitalization/redevelopment of Lansdowne
Park, a collaborative approach to consultations with New Edinburgh
community organizations in designing Beechwood, an innovative new condo
development, as well as the recent acquisition of South Centrepointe
rental community in Ottawa's west end. The company also has an ongoing
legacy of corporate citizenship and philanthropy focused on giving back
to community organizations in Ottawa. Its employees are encouraged to
participate in community fundraising and volunteer activities, with
Minto matching pledges and donations.
"We take great pride in all we have done here in Ottawa to build and
grow the community" continued Waters. "Today's announcement reflects
our continued commitment to the city and we're excited about the
positive impact and opportunities that come as a result of the launch
of this premium rental residence."
The Minto Group, established in 1955, is an Ottawa-based real estate,
development, construction and property management company with
operations also in Toronto, London (ON), Calgary, and south Florida.
SOURCE: The Minto Group
For further information:
Emma Osgoode, Brand Manager
The Minto Group