• CDPQ was joined in the deal by Fonds de solidarité FTQ and Investissement Québec
• The investment is intended to help Germain Hotels accelerate its development across Canada and consolidate its network of 19 properties
• The company plans to open Alt Hotel Ottawa Airport in fall 2025

Caisse de dépôt et placement du Québec (CDPQ) has led a C$160 million investment in Germain Hotels, a hotel business behind Le Germain, Alt and Escad hotels in Canada.

CDPQ was joined in the deal by Fonds de solidarité FTQ and Investissement Québec.

A family business, Germain Hotels was founded in 1988 and has its headquarters in Quebec City.

The investment is intended to help the company accelerate its development across Canada and consolidate its network of 19 properties, according to a statement. Germain Hotels plans to open Alt Hotel Ottawa Airport in fall 2025, followed by Le Germain Hotel Casino de Montréal, and Le Germain Hotel Vancouver, in the coming years.

“For nearly 15 years, CDPQ has played a major role in supporting Germain Hotels at three key moments in its expansion across Canada,” said Kim Thomassin, executive vice president and head of Québec at CDPQ, in a statement. “By leading this new round of financing, we continue to stimulate the growth of a Québec company with a distinctive business model. Our aim is to sustain Germain Hotels’ success over the long term and reinforce its leadership in the Canadian hotel market.”

With the deal, Germain Hotels announced the merger of Groupe Germain and Alt Canada Investment Corp into a single entity, now operating as Germain Hotels.