The opening of Montague’s new Riverhouse Inn will create jobs and add a new destination to Eastern PEI’s tourism market, says Innovation and Advanced Learning Minister Allen Roach.
“Montague has a distinctive and beautiful waterfront, and this new hotel will allow more people to enjoy the scenery and personality of our town. With this facility in place in time for the 2014 tourism season, I am confident this hotel will help introduce Montague to a lot of people,” said Minister Roach.
The Riverhouse Inn will be a 30-room facility with reception areas, a large banquet room and extensive multimedia theatre space.
The new facility is expected to employ nine people full time and to create up to 10 part-time positions.
“We are excited about this venture and believe it will be a boost to our community and surrounding area’s economy,” said Robert Jay, owner of the Riverhouse Inn.
Finance PEI is supporting this $3.1 million project with a loan of $2.4 million and an $80,000 investment under the Equity Investors Incentive Program.