The iconic Hotel Vancouver, operated by Fairmont Hotels and owned by Quebec’s retirement pension plan is officially for sale.
According to Globe and Mail, the Caisse de dépôt et placement du Québec is amidst restructuring its organization by reducing its holdings in hotels. The holding have dropped significantly from 70 hotels to 10 in the past five years. If they continue to drop hotels, it is almost certain that at least three will remain with Caisse de dépôt et placement du Québec: The Queen Elizabeth and W Hotel in Montreal and the Chateau Frontenac in Quebec City.
So how much can you pick up Hotel Vancouver for? It’s still unknown. Real Estate experts are estimating somewhere between $100 million to $200 million.
The Hotel Vancouver first opened in May, 1939. It boosts 17-story’s and 556 rooms. This building is the third hotel to be named “Hotel Vancouver”.
photo credit: marksvegplot
