Germain Hotels secures C$160m investment for expansion

Canada-based Germain Hotels has secured C$160m ($115.25m) successful an concern round, led by Caisse de dépôt et placement du Québec (CDPQ).

The circular saw information from improvement superior money Fonds de solidarité FTQ and Investissement Québec, a fiscal services company.

CDPQ enforcement vice-president and Québec caput Kim Thomassin added: "For astir 15 years, CDPQ has played a large relation successful supporting Germain Hotels astatine 3 cardinal moments successful its enlargement crossed Canada."

"By starring this caller circular of financing, we proceed to stimulate the maturation of a Québec institution with a distinctive concern model. Our purpose is to prolong Germain Hotels' occurrence implicit the agelong word and reenforce its enactment successful the Canadian edifice market."

This fiscal infusion is acceptable to consolidate Germain Hotels' web of properties and is expected to propel its improvement nationwide.

The institution has besides revealed a strategical merger of Groupe Germain and Alt Canada Investment SEC, unifying nether the Germain Hotels brand.

This determination is designed to streamline the company's organisational operation and bolster its maturation trajectory.

A family-run concern with a three-generation history, Germain Hotels presently operates 19 properties. With the enactment of some organization partners and backstage investors, Germain Hotels has consistently expanded its footprint, the institution stated.

The institution has announced plans for the opening of Alt Hotel Ottawa Airport successful precocious 2025, followed by Le Germain Hotel Casino de Montréal and Le Germain Hotel Vancouver. These developments are portion of a semipermanent strategy to heighten the company's beingness passim Canada.

Germain Hotels co-founder and co-president Christiane Germain said: "Merging into a azygous entity volition fortify Germain Hotels' agility and springiness it the fiscal and organisational resources to prehend caller opportunities successful the Canadian edifice market. We are enthusiastic astir the opportunities that prevarication up and astir promoting Québec's expertise."

In October 2023, Germain Hotels launched its 19th property, Alt Hotel Calgary University District.

"Germain Hotels secures C$160m concern for expansion" was primitively created and published by Hotel Management Network, a GlobalData owned brand.

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