The CCHP says they have been working with sub-contractors over the past 6 weeks to reconcile work with each contract, significant payments were made in December and January, and they expect the accounting to be completed in early February.
Here is the full statement issued:
“In a statement 
issued in December 2013, we noted that Charlotte County Hospitality Partners has 
assumed responsibility for the management of the renovation of the Algonquin 
Hotel.
Over the past six 
weeks we have been working with the sub contractors to reconcile work performed 
against each contract and significant payments were made in December and 
January. With the cooperation of all the sub-contractors we have been able 
to
continue working 
towards full project completion for May and a possible partial opening in 
February or March. As the account reconciliation continues, some sub-contractors 
have exercised their lien rights. We understand that this is a legal precaution 
to protect their interests and we appreciate the continued support we are 
getting from the subcontractors.
We expect to have the 
accounting work completed in early February and for additional payments to be 
made shortly.
When we set out to revitalize 
the Algonquin, we knew there would be challenges.  We’re certain, however, that 
when the final results are unveiled it very quickly will become the hospitality 
landmark of Atlantic Canada and make all New Brunswick very proud.  Our booking 
pace is extremely positive and we anticipate an exceptional spring and 
summer.”
Charlotte County Hospitality 
Partnership.
 

 



