A local investment group has submitted an increased bid to purchase the Fairmont Château Montebello and revitalize the historic Quebec resort.
The proposal represents a significant effort to modernize one of Canada's most iconic lodging properties while attempting to maintain its heritage. If successful, the acquisition would shift the resort's ownership to a consortium of local investors focused on long-term infrastructure upgrades.
The bidding group includes Michael Andlauer, owner of the Ottawa Senators, and Jean-Pierre Poulain, the CEO of Devcore Group. The group presented the upped bid on Wednesday, July 8 [1].
According to the proposal, the investors plan to restore and upgrade the property by adding modern amenities. A central part of this revitalization includes the construction of 125 new suites [2].
The financial commitment for the project is substantial. The group intends to invest more than $100 million [2], with total investment potentially reaching up to $150 million [2] to ensure the resort's viability and appeal to contemporary travelers.
The group said the goal is to preserve the historic character of the Château while introducing the necessary updates to remain competitive in the luxury hospitality market. By combining the resources of a sports ownership magnate and a development firm, the consortium aims to stabilize the property's future in Montebello.
“The group intends to invest more than $100 million”
This bid signals a transition from corporate hotel management toward a localized ownership model with a focus on aggressive capital injection. By proposing an investment of up to $150 million, the group is betting that the historic appeal of the Château Montebello can be scaled through expanded capacity and modernized luxury suites to drive higher occupancy and revenue.
