SHELTON, CT—This year, New Castle Hotels and Resorts will add four new hotels to the market, following up the first half of 2014 with at least one more. The additions, mark a period of “unprecedented growth” for the locally based company expanding its guestroom portfolio by 20%.

“There are opportunities in every cycle, and we spent considerable time during the downturn strategically sourcing deals that would come online as the market regained full steam,” said David Buffam, CEO of the company. “We also have a substantial pipeline of diverse projects that will mature as the year progresses.”

Among the firm's plans is the reopening of the Algonquin Resort in St. Andrews by-the-Sea, NB, and with it, the Canadian debut of Marriott's Autograph Collection. New Castle acquired the landmark resort in April of 2012 and is undertaking a $30-million reconstruction that will be completed in the second quarter of this year.