Four First Nations Acquire Majority of Hilton Québec

QUEBEC CITY — Four First Nations, united under a newly created entity, Atenro, have announced a partnership with InnVest Hotels to acquire a majority stake in Hilton Québec. Hilton will continue to manage the hotel.

The four First Nations represented are the Naskapi Nation of Kawawachikamach by the Taasipitaakin Trust, the Mi’gmaq of Gespe’gewa’gi by Mi’gmawei Mawiomi Resources LP, the Huron-Wendat Nation by the Wendat Investment Corporation LP and the Cree Nation by the James Bay Eeyou Corporation. Together, they created the Atenro limited partnership, which means “friendship” in the Wendat language.

“Our new partnership demonstrates the willingness of Indigenous communities to invest in the economy in a sustainable way and to strengthen their financial self-sufficiency. The revenues generated by our investments, such as wind, allow us to diversify our investment,” says Fred Vicaire, CEO of Mi’gmawei Mawiomi Business Corporation, the general partner of Mi’gmawei Mawiomi Resources LP.

“By investing in hospitality properties, we have the opportunity to create spaces that showcase our heritage and allow visitors to learn more about our cultures. It also strengthens our economic position and financial autonomy, while contributing to the sustainable development of our communities,” says Henry Gull, president of the James Bay Eeyou Corporation.

“This acquisition is a concrete example of how First Nations can play a key role in Quebec’s economic development, while preserving and enhancing their unique cultural heritage. The development of our communities also requires strategic investments outside the territory,” said Louise Nattawappio, Chief of the Naskapi Nation.

“The Wendat Nation is proud of this major investment, which is also found on its magnificent territory, the Nionwentsïo. It’s even more significant since it’s sealed by an economic alliance with the Eeyou, the Mi’gmaq and the Naskapi. This historic transaction honours the memory of the Wendat ancestors who once had an important network of trade and trade alliances. We continue in the same tradition and set an example for our younger generations where collaboration, ambition and visions can converge into concrete successes that promote our financial independence,” says Grand Chief Pierre Picard.

“Hilton Quebec is a high-performing hotel in our portfolio, and this very important agreement with our First Nations partners in Quebec allows us to unlock the value of this property while providing a dynamic new investment opportunity for new owners. Our InnVest team will continue to be actively involved with the hotel as asset managers for the new partnership. We are thrilled to welcome the Naskapi Nation of Kawawachikamach, the Mi’gmaq of Gespe’gewa’gi, the Huron-Wendat Nation, and the Cree Nation on this exciting journey,” says Lydia Chen, CEO of InnVest Hotels.

The new owners plan to implement joint initiatives with Hilton Québec and InnVest Hotels to provide employment and training opportunities for members of all First Nations. All current jobs will be maintained. The new owners recognize the quality of work of all the hotel’s team members, and nothing will change as a result of this acquisition.

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