PAR999 Holdings Inc. will build a luxury resort in Hinton, Alta. which will also serve as a hospitality education centre, and is planning to break ground in 2023.
Government of Canada invests in Quebec small tourism businesses
The federal government has announced a total of $40 million in investments in the Tourism Small Business Assistance Project led by the Fédération des chambres de commerce du Québec (FCCQ) and the Réseau des SADC et CAE.
This project aims to support small tourism businesses to help them adapt or develop their products and services by seizing opportunities arising out of the recovery.
CED’s support, provided under the Tourism Relief Fund, is set to enable small tourism businesses to implement investment projects to adapt or develop their products and services based on their clients’ needs. Details of the financial assistance for the two organizations are as follows:
The FCCQ is receiving a non-repayable contribution of $20 million to grant funding to chambers of commerce in urban areas based on the needs of tourism businesses within their territories. Founded in 1909, the FCCQ is a major, diverse network of Quebec businesspeople and businesses that includes 123 chambers of commerce and 1100 corporate members. It represents over 45,000 businesses operating across all sectors of the economy throughout Quebec.
For its part, the Réseau is receiving a non – repayable contribution of $20 million, redistributed to the SADCs (Sociétés d’aide au développement des collectivités) and CAEs (Centres d’aide aux entreprises) to help rural tourism businesses in their communities. The SADCs and CAEs are non-profit organizations that have been working for over 40 years to develop Quebec’s regional economies. The Réseau includes 57 SADCs and 10 CAEs. Each year, they help and fund over 10,000 businesses and more than 1500 local projects.
These two projects aim to complement actions taken by other partners to support a tourism industry greatly affected by the consequences of the pandemic.