Group that includes Ottawa Senators, Devcore owners loses bid for Château Montebello
The local investor group had pledged up to $150 million to redevelop the 210-room resort, but PwC has not named the winning bidder.
- On Monday, a group including Ottawa Senators owner Michael Andlauer, Spa Nordik founder Martin Paquette, and Devcore Group CEO Jean-Pierre Poulin announced it failed to acquire Fairmont Le Château Montebello.
- A decade of Chinese ownership ended when a judge determined China Evergrande Group needed to liquidate assets due to $300 billion US in liabilities, prompting the Superior Court of Quebec to appoint PricewaterhouseCoopers as receiver last November.
- Andlauer's consortium had committed up to $150 million toward comprehensive renovations, including redeveloping the golf course, doubling marina capacity, and expanding the 210-room resort to 350 rooms.
- While the group expressed disappointment, Montebello Mayor Nicole Laflamme stated the iconic hotel has been part of the community since the 1930s and hopes new owners will prioritize restoration and maintenance; PwC withheld the winning bidder announcement pending legal process completion.
- Community stakeholders await PwC's formal announcement of the winning bid while hoping incoming ownership will preserve the nearly 100-year-old resort's heritage and operational standards as the court-supervised sale progresses.
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TVA Nouvelles
Despite the hope of its sale, Château Montebello will not become a Quebec property again.
Andlauer group's Château Montebello bid unsuccessful
A group including Ottawa Senators owner Michael Andlauer, Spa Nordik founder Martin Paquette and major Ottawa-Gatineau developer Devcore said Monday it did not win the bidding to take over the Fairmont Le Château Montebello hotel.
Group that includes Ottawa Senators, Devcore owners loses bid for Château Montebello
A group of local investors that includes Ottawa Senators owner Michael Andlauer and Devcore Group CEO Jean-Pierre Poulin will not be purchasing the Fairmont Château Montbello, Poulin has announced.
The famous Château Montebello remained a foreign possession. Disputed in his attempt to acquire the Château Montebello, the group led by the Senators' owner of Ottawa Michael Andlaeur reproached the Legault government for remaining on the sidelines.
The offer to purchase the Montebello Castle from the investor group in the National Capital Region was not accepted.
After a strong fight to buy the Château Montebello, it was not the Gatineau-Ottawa consortium that finally won. The receiver refused their offer on Friday.
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