Carmacks Development Corp and Northern Vision Development join forces to enter arrangement to acquire Carmacks Hotel Ltd.
FOR IMMEDIATE RELEASE
Carmacks, Yukon – May 11, 2022 – Carmacks Development Corporation (“CDC”) and Northern Vision Development LP (“NVD”) are pleased to announce their plan to jointly acquire the Carmacks Hotel Ltd. on June 30, 2022.
Carmacks Hotel Ltd. owns and operates several facilities in the Village of Carmacks including: a 30-room hotel and cabins; 15 serviced RV park; a grocery store; fuel services; and a restaurant and lounge and cabins along the Yukon River, among additional retail outlets and services.
The Tracey family has been the long-term owner operator of these assets and Kendell Tracey is looking to retire and hand off the facility to a group with a long-term vision to enhance the assets and to continue to improve the services available to people living and working in the Carmacks area.
Sheila Garvice, Chair of the Carmacks Development Corporation (CDC), beamed “We are excited to acquire such an important part of the Carmacks community, and to join with the NVD team to fulfill our vision for the Carmacks community. This is happening thanks to the support of the citizens of LSCFN and will be achieved in partnership with NVD’s significant experience and capability.”
“We are excited that both CDC and the Little Salmon Carmacks Trust (LSCFN) decided to make meaningful investments in NVD recently” says Rich Thompson, CEO of NVD. “As part of that investment, NVD committed to assess investment opportunities in Carmacks and to invest if an appropriate opportunity was available. We are certainly excited about the prospects we see for this wide range of businesses and I want to thank Ron Gartshore, CEO of CDC, for his hard work in making this historical purchase become a reality.”
NVD’s Chief Hospitality Officer Katja Schmidt added: “We are delighted to work with this comprehensive portfolio of assets and to bring NVD’s best practices and experience to Carmacks to help realize their potential. We have had excellent experiences working with our First Nation investors and their development corporations in Dawson, Mayo and Carcross and look forward to a similar experience in Carmacks.”