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.
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.