Caisse subsidiary to spend $66 million on Chateau Frontenac facelift

MONTREAL – Quebec City’s famed Chateau Frontenac hotel is undergoing a $66 million facelift.

Ivanhoe Cambridge, the real estate subsidiary of the Caisse de depot et placement du Quebec, said Thursday it will revitalize the landmark’s 618 guest rooms, main lobby and distinctive features.

Ivanhoe CEO Daniel Fournier said the transformation will position the unique hotel to among the most exclusive “high-end destinations” in the world.

“Our renovation project is an important contribution to the preservation of a historic monument as well as a cost-effective investment,” he stated.

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Opened in 1893 for the Canadian Pacific Railway, the hotel is named for a 17th-century governor of New France. It became a national historic site of Canada in 1980.

Quebec City Mayor Regis Lebeaume said transformation will blow fresh air into the hotel perched atop a hill in the Old Capital overlooking the St. Lawrence River.

“Once this metamorphosis is complete, visitors from the world over will be received in a veritable modern-day palace,” he added.

The revitalization will also expand banquet space and the health centre while totally renewing restaurant service and showcasing heritage elements of the hotel.

The masonry and roofing work has already started. The entire retrofit will be completed this year.

Ivanhoe Cambridge is one of the 10 largest real estate companies in the world, with more than $30 billion of assets in the shopping centre, office, and multi-residential buildings in 24 countries.