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____ Wednesday November 4, 2015 ____

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Closing

The Legacy Establishment Known as Waterloo Inn Announces "It's Closing" on Dec 15

The hotel occupies just a quarter of the 19 acres being sold, owners determined the property is currently under-utilized


Waterloo – The Waterloo Inn Conference Hotel today announced its decision to close on December 15 and prepare for the sale of the property. The Legacy Hotel has been host to a variety of local, provincial, federal and national private and public events. "They're not many people who don't know the Waterloo Inn" says Publisher Jon Rohr, "Mary D'Alton, and the many wonderful staff, made it a go to, memorable destination, not only for over night stays, but for a coffee, drink, dinner and convention use - that unique atmosphere will be missed."

Ownership, which consist of various area investors, considered all alternatives and determined their only choice was to close the hotel. “This was a very difficult decision,” said Mary D’Alton, President and Managing Director. “Without substantial capital reinvestment, the business is no longer economically sustainable. Primary for us is making sure our employees are treated very fairly and that our clients are cared for.” The Waterloo Inn will remain open and continue to hold successful and first-class events up to December 15th. The hotel is working closely with clients, particularly those with events in December, to ensure a smooth transition.

Originally built in 1972, with several additions and upgrades over the years, the Waterloo Inn is a gateway site for the city of Waterloo. The hotel itself occupies just a quarter of the 19 acres being sold and the property is currently under-utilized. It is a prime location that requires new vision and significant new investment to revitalize the property and realize its full and greater potential. “Clearly, it is time for a change,” said D’Alton. “The City permits additional, more intensified uses for this property and visionary new development is possible at this location. We are in discussion with prospective buyers with the investment power to build something truly special and, in spite of how I feel personally about the hotel closing, I know this is the right thing for the future…for clients, staff, owners and the community as a whole.”

The hotel plans to close on a high note after almost four decades, with a fond farewell to clients and staff. “My hope is that we’ll be remembered for what we have done in the community,” said D’Alton, “not for the building but for the people in it - the work they have done, the special moments they helped to create and the memories shared. We hope that our community engagement will be the legacy we leave for a future owner to add to. It has been an amazing run.“

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