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Location: Toronto, ON
Sector: Real Estate
Kingsway Arms specializes in the operation of retirement homes. They have been in business for twenty years. They manage every aspect of a retirement home, from highly skilled nurses to physiotherapists, chefs and housekeepers. They have experience in building from new, renovating, expanding, and maintaining the homes that they manage. They are considered a mid-market operator, who offer independent living through to assisted daily living and they are one of the few operators who have being providing cognitive impairment care for over 14 years, the most common form of this disease is Alzheimer’s.
- There is a high demand in the senior’s marketplace to have access to retirement homes that specialize in Alzheimer care. In Ontario, the wait for a nursing home that has an Alzheimer wing or secure floor is two years.
- The requirement for a typical room for this level of care is basically the size of a hotel room; one single room with a bathroom. No kitchen or bedroom are required as these residents will need a delivery of care that will increase over time and they will eventually pass away from the disease, there is no cure at the present time.
- Upward of one third of the population over the age of 75 will contract some form of Cognitive impairment with Alzheimers being the most prevalent.
- Hotel owners are unaware of the potential of their hotels being converted into retirement homes that can provide Alzheimer care. 10 to 15% of various hotel portfolios usually end up on the selling block as the owners do not know what to do with their poor performing hotels, so they simply sell them off.
- Their strategy will be to purchase 6 hotels that are not performing well in six different geographic locations and then convert them into legally conforming retirement homes specializing in Alzheimer care.
- Phase II down the road would be to develop the surplus land, usually the parking lot, into an IDL/ADL retirement home.
Kingsway Arms specializes in the operation of retirement homes. They have been in business for twenty years. They manage every aspect of a retirement home, from highly skilled nurses to physiotherapists, chefs and housekeepers. They have experience in building from new, renovating, expanding ,and maintaining the homes that they manage. They are considered a mid-market operator, who offer independent living through to assisted daily living and they are one of the few operators who have being providing cognitive impairment care for over 14 years, the most common form of this disease is Alzheimer’s.
Patrick Byrne, BA, HBCom. MBA, President and CEO
Mr. Byrne has been the President and CEO of Kingsway Arms of since 1997, he is the entrepreneur that drives the business. His responsibilities include the development and execution of Kingsway’s strategic plans, investor relations, and oversight of acquisitions and development projects. He founded the company in 1997 after his successful acquisition of the Bradgate Arms Hotel. Kingsway has now become a fully integrated owner/operator of mid-market retirement homes in Ontario. Mr. Byrne has been working for over 30 years and has a solid background in operations. He spent five years in Corporate Banking with BOM in 1981 and then Continental Bank in 1984, he then spent five years working for a publicly traded company that colourized black & white movies. Mr. Byrne then ventured out on his own in the early 1990s into the retirement home business working on feasibility studies. He has held a number of senior executive positions in start-up companies and has significant experience in developing, and managing.
Sheila Mansion, RN, Vice President of Operations
Sheila joined Kingsway Arms as VP Operations in 2000. Sheila has over 35 years of experience in the healthcare industry. Prior to joining Kingsway Arms, Sheila was responsible for the operations of 12 nursing homes for CPL in the 90s. She is experienced in all aspects of operations, she has held department head positions, on-site administrator and as senior executive director of operations. Sheila has held various elected positions with the Ontario Residential Care Association (ORCA) over the last 25 years and she is currently an ORCA accreditor. Sheila is well respected executive with in their industry and has been a great asset to Kingsway Arms.
Marilyn Lachapelle, CMA, Controller
Marilyn joined Kingsway Arms in November 1999 as Controller. She brings over 35 years of progressive experience and has an educational background in accounting and social services. Marilyn began her career in the corporate office of Hudson Bay Mining and Smelting Company Limited where she held the positions of Accountant and Administrator, Credit & Treasury. She has also held the position of Accountant and Controller for a retail franchise organization and a promotional advertising company. At Kingsway, Marilyn is responsible for the overall financial management and reporting of Kingsway Arms Retirement Residences Inc. and for the managed properties portfolio including all monthly and quarterly financial reports, annual budgets, forecasting models, financial projections for all new projects, and investor reports. Marilyn has made a very significant commitment and contribution to Kingsway Arms over the last 18 years.
Debra Wallace, BSc., Regional Director, Executive Director
Debra joined Kingsway Arms in 2005, at a home they managed in Hamilton. In 2007, Debra agreed to move to a home in Port Elgin Ontario. Debra has been the Executive Director at Elgin Lodge in Port Elgin for the last ten years where she manages a staff of 60 employees. In 2008/2009 they went through a large expansion and extensive renovation to this home and Debra played an integral role, she is a great person to work with.