Germain Hotels has announced the successful completion of a new $160 million investment round, led by CDPQ with participation from the Fonds de solidarité FTQ and Investissement Québec.
This transformative investment reflects the renewed confidence of these long-standing institutional partners as well as private investors. It will enable the company to accelerate its development across Canada and consolidate its network of properties.
In light of this investment, Germain Hotels is also announcing the merger of Groupe Germain Inc. and Alt Canada Investment Corporation SEC into a single entity, now operating as Germain Hotels. This strategic alliance aims to simplify the organizational structure and support the next phase of the company's growth.
Since the creation of the Alt banner, Germain Hotels has always been able to rely on the steadfast support of its institutional partners and private investors. As some of them have chosen to step back at this stage, it would like to take this opportunity to extend its sincere gratitude. Their support has played a vital role in the growth of its network and in shaping the distinctive identity of Alt Hotels.
"We're very pleased to count on the renewed commitment of high-quality partners," says Jean-Yves Germain, co-founder and co-president, Germain Hotels. "This additional investment marks an important milestone in the growth of our family business. It gives us the means to achieve our ambitions while remaining true to our core values."
"For nearly 15 years, CDPQ has played a major role in supporting Germain Hotels at three key moments in its expansion across Canada," adds Kim Thomassin, executive vice-president and head of Québec, CDPQ. "By leading this new round of financing, we continue to stimulate the growth of a Québec company with a distinctive business model. Our aim is to sustain Germain Hotels' success over the long term and reinforce its leadership in the Canadian hotel market."
"Investissement Québec is proud to once again join forces with Germain Hotels. By increasing its stake in this Québec flagship company, the government corporation reaffirms its commitment to supporting local businesses at every stage of their growth and fully embraces its role: fostering the growth of Québec companies and propelling them to global leadership in their respective industries," states Bicha Ngo, president and CEO, Investissement Québec.
With its 19 properties, Germain Hotels continues to expand its presence across Canada with the opening of Alt Hotel Ottawa Airport in fall 2025, followed by Le Germain Hotel Casino de Montréal, and finally, Le Germain Hotel Vancouver, in the coming years. The company is committed to pursuing its mission of offering distinctive and authentic hotel experiences from coast to coast. "Merging into a single entity will strengthen Germain Hotels' agility and give it the financial and organizational resources to seize new opportunities in the Canadian hotel market. We are enthusiastic about the opportunities that lie ahead and about promoting Québec's expertise," says Christiane Germain, co-founder and co-president, Germain Hotels.
The Luxury Collection, part of Marriott Bonvoy’s global portfolio, has made its official entry into Atlantic Canada with the addition of Muir, a Luxury Collection Hotel, Halifax. Located in the Queen’s Marque district…
Sonesta International Hotels has appointed Gunjan Kahlon as regional vice president, lodging development.
RIMAP Hospitality Services Inc. has announced that the upcoming opening of the AC Hotel by Marriott Ottawa Downtown is set for April 24, 2025.
CFO Capital has arranged acquisition financing for the Hampton Inn & Suites Barrhaven, Ottawa.
