Preserving History: Ottawa Senators Owner and Devcore Group CEO Bid for Fairmont Chateau Montebello
A group led by Ottawa Senators owner Michael Andlauer and Devcore Group CEO Jean-Pierre Poulin is bidding to acquire the historic Fairmont Chateau Montebello in Montebello, Quebec. The resort, known for being the largest log structure in the world, was put up for sale after its previous owner, Chinese real estate firm Evergrande, faced financial difficulties. The sale is being managed by investment management company Colliers, with PricewaterhouseCoopers Inc. appointed as the official receiver for the resort.
Poulin, along with Andlauer and Martin Paquette of Spa Nordik, has submitted a bid for the Fairmont Chateau Montebello. The group aims to honor the hotel's rich history and local significance. The bid, described as a "number to win," is considered fair and reflective of the value of the property. The group emphasizes the importance of finding the right owner who can make decisions that benefit the employees, the Fairmont brand, and the community of Montebello.
The bid includes the operating hotel, a championship golf course, a marina, meeting and event spaces, dining outlets, a spa, and potential for future development on excess land. The group envisions the hotel being locally owned and managed, preserving its historical significance and contributing to the region's economy. Colliers confirms that the sales process is ongoing under court supervision, with strict protocols in place to ensure a fair and competitive bidding process.
Chateau Montebello, located along the Ottawa River, has received significant capital improvements in recent years. The hotel remains open to guests during the sales process, maintaining its operations and services. The group led by Andlauer and Poulin is committed to celebrating the hotel's heritage and ensuring its continued success under new ownership.
In conclusion, the bid for the Fairmont Chateau Montebello represents a significant opportunity for local entrepreneurs to acquire and preserve a historic landmark. The group's commitment to honoring the hotel's legacy and investing in its future highlights their dedication to the community and the region's tourism industry. The ongoing sales process, overseen by Colliers and the court-appointed receiver, aims to find the right owner who can uphold the hotel's traditions and contribute to its long-term sustainability.