MONTREAL — Real-estate company Ivanhoé Cambridge is set to invest $140 million for a major renovation of Montreal’s Fairmont The Queen Elizabeth hotel.

“This transformation will mark the hotel’s return as Montreal’s leading business destination and preferred venue for international events and global business conferences,” said Daniel Fournier, chairman and CEO of Ivanhoé Cambridge. “We are extremely proud to invest in downtown Montreal, our economic, commercial and cultural heart. This project is an exceptional opportunity to innovate and to write a new chapter in the history of our great city.”

The hotel’s transformation will include a new business campus featuring public meeting and multifunctional spaces, as well as restaurants, bars and an urban market.

The historic property is scheduled to close for renovations in June 2016 and will reopen in June 2017.



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