MONTREAL — Toronto’s Royal York and the Hotel Vancouver, two of Canada’s iconic hotels, have been put up for sale by owner, the Caisse de dépôt et placement du Québec.
The company — which previously owned 70 hotels — will reduce its portfolio to three: the Château Frontenac in Quebec City, the W Montreal and the Queen Elizabeth in downtown Montreal. “It’s hard to be an expert in everything everywhere, and we now want to refocus and concentrate on these three asset classes,” Sylvain Fortier, EVP, said in an interview with CBC News.
The hotels will likely continue to run as Fairmont Hotels, although change in ownership could lead to significant renovations. Both hotels date back to the early 1900s and have housed a number of celebrities and historic figures over the years.