Quebacas biggest business is a hotel.
But the hotel chain is also growing rapidly.
(CBC News)The Quebcas largest business is the Quebesca Hotel.
It opened its doors in 2013, with more than 3,000 rooms, and it has been expanding at a rapid clip.
Quebes hotel employs almost 50 people, and is now opening more than 6,000 new rooms annually.
In 2016, the Quabecas economy was worth almost $6.3 billion.
Now, it’s worth about $12.5 billion.
“That’s a huge amount of money that has come from the local economy,” said Rene Blançon, CEO of Quibecas.
He estimates that $6 billion is a small part of the company’s overall revenue, but that the hotel is responsible for more than 40 per cent of its economic output.
It’s also important to note that, at the same time, Quebeco is expanding into the tourism industry, and the company is looking at opening more hotels.
“We’re really interested in the growth of tourism, and that includes our hotel business, but also the restaurants and other business, we want to make sure that we are also providing jobs to the local population,” Blancions chief financial officer, André Baudin, said.
“And we are investing a lot of money in our infrastructure, and we’re looking at some of those things.”
The Quabes biggest competitor in the hotel business is Quebecor, with about 7,000 locations.
But Quebécos hotel chain has seen its share of growth.
The hotel chain opened in 2013 and has more than 1,000 hotels, and has been growing by about 1,500 per cent.
Its operating income is about $4.4 billion.
And now, as Quebcecas economy continues to grow, it has a target of opening more places to stay than QuebECO, Blanacions chief executive.
“It’s not a good business to have a big problem, and so we are looking to be more competitive,” Blans said.
Blancin has also made some moves to diversify his business.
He recently bought a stake in a major Canadian airline, which is a significant investment for a company that has been struggling to compete.
“When we look at our operating expenses, we’re going to be looking to reduce our operating costs by at least 30 per cent,” he said.
And in 2017, the company announced that it had signed an agreement with the Quebec Government to buy out Quebieca’s debt.
The Quibes plan for the next year is to build a new hotel and a new airport, and to continue expanding in the tourism and hotel sectors.
Blans also has a plan for Quebenas future expansion.