As Hay River springs to life with new growth and development, one of the RoweSA国际影视传媒檚 Group of Companies family members says it was the right time to sell their long-established Ptarmigan Inn, as announced last week in the Hay River Hub.

SA国际影视传媒淚tSA国际影视传媒檚 a family business and weSA国际影视传媒檝e been in hospitality for about 20 years, and I think itSA国际影视传媒檚 time now to move on and try new things,SA国际影视传媒� Terry Rowe, the former general manager of the Inn, said.

SA国际影视传媒淚 think it is a good opportunity as well, so RoweSA国际影视传媒檚 Group of Companies posted it and I think there is lots of good opportunities in Hay River, business-wise,SA国际影视传媒� he said.

The building includes a 42-room hotel, a restaurant, a pub, a full-service gym in the basement, three conference rooms, plus several non-hospitality lease tenants SA国际影视传媒� all for a $4.25 million price tag. Rowe said they did constant upgrades throughout the building during the 18 years they owned the building.

SA国际影视传媒淚 think our family tried to keep it as new and fresh for our customers as we could, so that is another reason I think why maybe now is a good reason to sell, as weSA国际影视传媒檝e done as much as we could to the building and the property, and we are pretty happy about that.SA国际影视传媒�

SA国际影视传媒淚 think itSA国际影视传媒檚 a good time,SA国际影视传媒� he said of the decision to sell the building, located in the heart of the downtown area.

Prosperous outlook

There is a flurry of construction activity in the region, including the Sundog development project, a possible new long-term care facility, a commercial fish plant, new housing construction, as well as Brad MapesSA国际影视传媒� AWP Industries partnership with North Star Agriculture NWT in Enterprise.

The possible opening of the Pine Point mine will also likely bring economic benefits to the region.

Jane Groenewegen, a former NWT MLA, and a businessperson in Hay River, said in an email that it was indeed SA国际影视传媒渂ig newsSA国际影视传媒� that one of Hay RiverSA国际影视传媒檚 long-standing, locally-owned businesses is now for sale.

SA国际影视传媒淲e roll along and the years pass. We donSA国际影视传媒檛 often think about things changing, but they do and they will,SA国际影视传媒� she said.

SA国际影视传媒淚 can understand that after 20 years, they may feel itSA国际影视传媒檚 time. ThatSA国际影视传媒檚 a long run for any business.SA国际影视传媒�

Neither Rowe nor Groenewegen could surmise who might decide to buy the business.

SA国际影视传媒淲hen thereSA国际影视传媒檚 major changes in ownership, the local economy, it sort of reshuffles the deck, so to speak,SA国际影视传媒� said Groenewegen.

SA国际影视传媒�(ItSA国际影视传媒檚) hard to know who will pick it up, and the market for it is likely somewhat limited in a town the size of Hay River. Outside investors would probably come with a different corporate culture,SA国际影视传媒� she said.

SA国际影视传媒淲e are pretty used to knowing the key players in most of the businesses in Hay River that have been built from the ground up. So many family businesses in Hay River fall into that category.

SA国际影视传媒淪o, it will be different in that sense.SA国际影视传媒�

One thing for certain, it wonSA国际影视传媒檛 be the Groenewegen family that buys the keys to the business.

SA国际影视传媒淥ur family hasnSA国际影视传媒檛 and wouldnSA国际影视传媒檛 consider buying it. We are getting close to retirement age ourselves and should be thinking about scaling back, even though we donSA国际影视传媒檛 have any immediate plans in that area,SA国际影视传媒� Groenewegen said.

SA国际影视传媒淲e had the opportunity to purchase the Ptarmigan 20 years ago and we actually looked at it, but it didnSA国际影视传媒檛 really fit our plans. This may sound strange, but at that time, a lot of the revenue was around the sale of alcohol, something that didnSA国际影视传媒檛 really suit us as non-partakers ourselves,SA国际影视传媒� she said.

We saw a lot of ways to make a living in Hay River and there are still lots of opportunities here. We wish the owners of the Ptarmigan all the best in their efforts to sell and ISA国际影视传媒檓 sure it will remain an integral piece of what Hay River has to offer.SA国际影视传媒�

Rowe said he was appreciative of all the staff that worked for the business over the years.

SA国际影视传媒淭here were a lot of amazing people and a lot of great relationships and it was a working family, for our family for sure, and I want to thank them for their hard work and great years throughout that time,SA国际影视传媒� Rowe said.

Rowe said there are no plans to sell any of their other real estate - the group owns numerous businesses, land and properties in the area.

Currently on the RoweSA国际影视传媒檚 website, the company has an announcement of a SA国际影视传媒渘ewly constructed apartment complexSA国际影视传媒� slated to be completed this year.

The 44-unit downtown building is described as serving SA国际影视传媒渁 growing need for accessible housingSA国际影视传媒� in the community and being SA国际影视传媒渁 first for the Town of Hay River.SA国际影视传媒�