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CREECO assumes full ownership of Quality Inn & Suites Val d’Or
VAL D’OR, Que. — On Thursday, Dec. 10, the Board of Compensation (BoC) and the Cree Regional Economic Enterprises Company (CREECO) proudly announced that an agreement has been reached to allow full ownership of the Quality Inn & Suites Val d’Or. Ten years ago, Trahan Holdings and CREECO agreed to partner and open a hotel […]
VAL D’OR, Que. — On Thursday, Dec. 10, the Board of Compensation (BoC) and the Cree Regional Economic Enterprises Company (CREECO) proudly announced that an agreement has been reached to allow full ownership of the Quality Inn & Suites Val d’Or.
Ten years ago, Trahan Holdings and CREECO agreed to partner and open a hotel in Val‑d’Or. Maintaining a strong relationship since, this partnership allowed the creation of 40 jobs in addition to investments of more than $9.5 million for its construction. There are significant economic spin-offs in Abitibi-Témiscamingue from the management of the hotel, and its contribution to the tourism industry is considerable.
“Since February 2011, the Quality Inn & Suites Val‑d’Or has upheld the highest industry standards for providing comfortable and reasonably priced accommodations. Ideally located, they continue to welcome guests who visit the area for business and leisure and have won several awards as a testament to the excellent service their employees provide. By officially bringing them into the CREECO family, we hope to build on their outstanding reputation and perpetuate the model of this award-winning hotel” said Derrick Neeposh, chairman of the Board of Compensation and president of CREECO.
Alexandre Audet, general manager of the Quality Inn & Suites Val‑d’Or said, “I am incredibly pleased to see the Quality Inn & Suites join ranks with such a strong group of businesses as CREECO. I would like to salute the hard work and collaboration of all those involved in making this deal happen. I’m confident that in joining forces, CREECO and the Quality Inn & Suites will be able to continuously meet the needs of our customers and provide the high-quality service they have come to expect”.
Fernand Trahan, former president of Quality Inn & Suites Val d’Or and a former mayor of Val d’Or, told the press conference that he is going on to other ventures, and spoke about the great friendship with CREECO over the past 10 years. “Thank you for all those years,” he said.
Continuously making a meaningful contribution to Cree development, CREECO represents the Cree communities in Quebec. It was incorporated in 1982 and is a subsidiary wholly owned by the Cree Nation Government which acts through the Board of Compensation. CREECO is involved in many economic sectors, and its subsidiaries are committed to the following goals: profitability, longevity, stability, services for Cree communities, autonomy and self-sufficiency, leadership, transparency, employment for Cree people, and finally, Cree participation in the areas of administration and development.
Founded in 2011, the Quality Inn & Suites Val‑d’Or is the result of the partnership between businessman Fernand Trahan and the Cree company CREECO. With 82 luxury rooms and suites, it is positioned as a leader in the hotel industry in the region and within the Choice Hotels chain. Each year since its opening, the hotel has received the annual Platinum Hospitality Award, which is given to the top three percent of all Choice Hotels in Canada. It has also twice won the Canadian Hotel of the Year and International Hotel of the Year awards.
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