A local high-profile group bidding to purchase the Fairmont Chateau Montebello say they have upped their bid for the iconic hotel and resort, promising to invest hundreds of millions and dollars into restoring the property.
The nearly 100-year-old resort in Montebello, Que. was put up for sale after its previous owner, a Chinese real estate firm, racked up significant debt and was ordered to liquidate.
Ottawa Senators owner Michael Andlauer and Devcore Group CEO Jean-Pierre Poulin are part of the group bidding to purchase the hotel.
“It’s a big part of history. Canadian history, but also Quebec history,” Poulin told CTV News Ottawa.
The group says it is planning to invest between $100 and $150 million dollars into the property if successful.
Poulin says the plan includes redeveloping the golf course, doubling the size of the marina, and bringing the number of rooms from 210 up to 350.
“We have to step up. It can’t go to international interests anymore. It represents so much,” said Poulin.
Poulin says many are behind him and his team for the bid.
“We have a lot of people cheering for us to win here. We’re the only local group,” he said.
According to Poulin, the successful bidder is set to possibly be selected Friday,
“It’s quite exciting. And, yeah, we believe our team has a good chance.”
The Fairmont Chateau Montebello is recognized as the largest log structure in the world. Originally built in 1930, the 210-room resort is located on approximately 925 acres along the Ottawa River.
