Hay River’s Ptarmigan Inn for sale, valued at $4.25 million
Hay River’s downtown Ptarmigan Inn is the latest NWT business to appear for sale, listed at $4.25 million according to realtor Century 21.
The listing includes the 42-room hotel alongside its attached restaurant and bar plus three conference rooms and commercial tenants, describing the site as “substantially renovated.”
According to Century 21, the operation provided $4 million in gross revenue in 2021.
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The listing states the inn’s building was constructed in 1966 and acquired by present owners the Rowe’s Group of Companies in 2005. On its own website, Rowe’s – which has not commented on the sale – says the most recent upgrade was the completion of the renovated Doghouse Pub in 2015.
“Ptarmigan Inn is one of only a few facilities within Hay River that can accommodate 145 guests in comfort,” Century 21 states, calling the listing “an excellent opportunity to acquire a high-yielding hospitality operation.”
The listing marks the latest in a series of well-known NWT businesses appearing on the market. Last week, Yellowknife’s Gold Range Hotel was offered for sale for $1.5 million.