New IHG, Maplewood JV focuses on Candlewood brand in Canada

InterContinental Hotels Group and Maplewood Hotels & Resorts plan to develop 15 new-build Candlewood Suites in markets throughout Canada over the next few years. Formed in 2013, Maplewood is a joint venture between Driftwood Hospitality Management and Pacrim Hospitality Services Inc.

"Driftwood is eager to continue our expansion in Canada through our strategic partnership with Pacrim," said Carlos Rodriguez, EVP for Driftwood. "We're also keen on strengthening our relationship with IHG, which is why the development of new Candlewood Suites hotels through Maplewood is a perfect fit."

"We believe that the extended stay business model is largely under-represented in Canada, and our agreement with IHG presents a significant opportunity to introduce extended stay properties across the country," said Glenn Squires, CEO of Pacrim.

Maplewood has been busy tying up with other hotel companies to develop hotels in Canada. In January, Maplewood inked a deal with Choice Hotels International to to develop new Cambria Suites properties in Canada.

In 2007, Pacrim opened the first Candlewood Suites hotel for Canada in Montreal and currently owns or operates 11 IHG-branded hotels in Canada and two in the U.S. Driftwood has 12 IHG-branded hotels in its portfolio.

"Canada is a key market for growth for IHG," said Joel Eisemann, CDO, IHG. "Both Pacrim and Driftwood are long-time strategic partners for us in Canada and the U.S. They are proven industry leaders. We are proud that they already own and operate a number of IHG-branded hotels. We are excited that the Candlewood Suites brand and IHG are an integral part of Pacrim's and Driftwood's growth plans in Canada."