Quebec-based Cassie de depot to sell the Houtel Vancouver, Fairmont Empress

Quebec’s pension fund manager is making moves to exit the hotel business, and according to News 1130 it will be announcing Friday that it is selling all of its locations except for three luxury hotels in its home province.

Landmark Fairmont hotels Royal York in Toronto and Hotel Vancouver will go on the block Monday and join five other locations destined for sale. They are Fairmont hotels in Victoria, Barbados, Seattle and Washington, DC, along with the Hilton Downtown Atlanta.

The Caisse de depot said its hotel holdings will be whittled down to Montreal’s Queen Elizabeth Hotel which will be renovated, the refurbished Chateau Frontenac in Quebec City and the W Montreal adjacent to its headquarters.

Virtual Event


Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

Real estate subsidiary Ivanhoe Cambridge has been selling its portfolio of 70 hotels in Europe, the US, Canada, Barbados and India for about two years to concentrate on retail, office and residential multi-family units that generate more stable returns.

Among the hotels already sold are Ottawa’s Chateau Laurier.

Suggested Articles

Many hotel owners will find themselves in the uncomfortable and unfamiliar position of deciding on a course of action for negotiating with their lende

For the week of Sept. 6-12, occupancy reached 48.5 percent, down 1.6 percent from the previous week.

Tisch joined Loews Hotels & Co in June 2017 from Loews Corp., where he was a VP.