Left to right:  Chief Adrienne Jérôme, Derrick Neeposh, Alexandre Audet and Fernand Trahan.

PRESS RELEASE

BOARD OF COMPENSATION AND CREECO ANNOUNCE THE ACQUISITION OF THE

QUALITY INN & SUITES VAL-D’OR

Val-d’Or, December 10th, 2020 – Today, the Board of Compensation (BoC) and the Cree

Regional Economic Enterprises Company (CREECO) are proud to announce that an agreement

has been reached to allow full ownership of the Quality Inn & Suites Val d’Or.

TEN years ago, Trahan Holdings and CREECO agreed to partner and open a hotel in Val-d’Or.

Maintaining strong relationship since, this partnership allowed the creation of 40 jobs in addition

to investments of more than 9,5 M $ for its construction. These are significant economic spin-offs

in Abitibi-Témiscamingue from the management of the hotel and its contribution to the tourism

industry is considerable.

“Since February 2011, the Quality Inn & Suites Val-d’Or has upheld the highest industry standards

for providing comfortable and reasonably priced accommodations. Ideally located, they continue

to welcome guests who visit the area for business and leisure and have won several awards as

a testament to the excellent service their employees provide. By officially bringing them into the

CREECO family, we hope to build on their outstanding reputation and perpetuate the model of

this award-winning hotel” said Derrick Neeposh, Chairman of the Board of Compensation and

President of CREECO.

Alexandre Audet, General Manager of the Quality Inn & Suites Val-d’Or said: “I am incredibly

pleased to see the Quality Inn & Suites join ranks with such a strong group of businesses as

CREECO. I would like to salute the hard work and collaboration of all those involved in making

this deal happen. I’m confident that in joining forces, CREECO and the Quality Inn & Suites will

be able to continuously meet the needs of our customers and provide the high-quality service

they have come to expect”.

-30-

About CREECO

Continuously making a meaningful contribution to Cree development, CREECO represents the

Cree communities in Quebec. It was incorporated in 1982 and is a subsidiary wholly owned by

the Cree Nation Government which acts through the Board of Compensation. CREECO is

involved in many economic sectors, and its subsidiaries are committed to the following goals:

profitability, longevity, stability, services for Cree communities, autonomy and self-sufficiency,

leadership, transparency, employment for Cree people, and finally, Cree participation in the areas

of administration and development.

About the Quality Inn & Suites Val-d’Or

Founded in 2011, the Quality Inn & Suites Val-d’Or is the result of the partnership between

businessman Fernand Trahan and the Cree company CREECO. With 82 luxurious rooms and

suites, it is positioned as a leader in the hotel industry in the region and within the Choice Hotels

chain. Each year since its opening, the hotel has received the annual Platinum Hospitality Award,

which is given to the top three percent of all Choice Hotels in Canada. It has also twice won the

Canadian Hotel of the Year and International Hotel of the Year awards.

For further information:

Valerie Pomerleau

Spokeperson for CREECO

(819) 856-5678

valerie@ryanap.com

 

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CNG Board of Compensation & CREECO annual assembly 2021

Join us on July 20, 2021 via ZOOM https://zoom.us/j/97640895421