Fairmont Le Chateau Montebello
Sales Date: December 2014
Client: Oxford Properties Group
Colliers Hotels is pleased to announce the sale of the 211-room Fairmont Le Chateau Montebello on behalf of Oxford Properties Group to Guangzhou-based Evergrande Group.
The Offering provided an outstanding opportunity to acquire an award-winning, unique and historically significant Canadian hospitality operation with an exceptional complement of facilities and services targeted at both corporate and leisure segments. Located between Ottawa and Montreal, the Property is only an hour’s drive from both major cities and is situated on the shores of the Ottawa River, offering a secluded hideaway with an exceptional array of year-round outdoor recreational pursuits.
The Fairmont Le Chateau Montebello is one of Canada’s leading comprehensive resorts and was purchased by Evergrande Group, one of the ten largest real estate developers in China with assets totalling $460 Billion Yuan (CAD$85 billion) and is traded on the Hong Kong Stock Exchange under the symbol 3333.
Fairmont Hotels & Resorts will continue to operate the resort under a long-term management agreement. The transaction was Evergrande Group's first real estate purchase in Canada.