Board of Compensation and CREECO announce the acquisition of the Quality Inn & Suites Val-d’Or
Val-d’Or, December 10th, 2020 – Today, the Board of Compensation (BoC) and the Cree Regional Economic Enterprises Company (CREECO) are proud to announce 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 strong relationship since, this partnership allowed the creation of 40 jobs in addition to investments of more than 9,5 M $ for its construction. These 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”.
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.