One of Canada’s most iconic hotel and resort properties, the Fairmont Chateau Montebello on the banks of the Ottawa River midway between Ottawa and Montréal, is officially for sale after being pushed into receivership last year.

The hotel was previously owned by Chinese real estate giant Evergrande, which fell into severe financial distress and eventually bankruptcy. The property has remained fully operational, however, under a management agreement with its operator Fairmont Hotels & Resorts.

Prospective owners interested in buying the property will have to move fast. Colliers Canada has been hired by the receiver, PricewaterhouseCoopers, to oversee the sale process. 

Non-binding letters of intent are due by April 7, with definitive offers due May 13. The anticipated closing is targeted for the week of July 27, according to the sale process announcement.

The hotel was forced into receivership in November after amassing almost $64 million in debt.

Recent history of the Chateau Montebello

Its former owner, Evergrande, had acquired the hotel in 2014 from Oxford Properties, but as its financial situation deteriorated, the property began falling further into disrepair, prompting news coverage decrying the decaying state of the main chateau and other buildings.

In its release about the sale process, Colliers notes approximately $17 million in capital improvements were undertaken between 2019 and 2025.

Despite the current woes, the Chateau Montebello remains a Canadian icon. 

It is located on approximately 925 acres along the Ottawa River in Québec's Papineau region – roughly an hour’s drive from Ottawa and 90 minutes from Montréal. Offering 210 rooms, the resort is recognized as the largest log structure in the world.

Originally completed in 1930, the property served as the private retreat of the Seigniory Club for four decades and has hosted world leaders at events including the 1981 G7 Summit.

The property was first opened to the public in 1970 following its acquisition by Canadian Pacific Hotels. The Fairmont banner was added in 2000 following Canadian Pacific Hotels' acquisition of Fairmont Hotels Management L.P., merging its portfolio to create Fairmont Hotels & Resorts. Fairmont remains as the hotel manager.

Fairmont then sold the Chateau Montebello as part of a portfolio transaction to Oxford Properties in 2006.

The offering encompasses the operating hotel, an 18-hole Stanley Thompson-designed championship golf course, a 100-slip marina, approximately 17,000 square feet of meeting and event space, five food and beverage outlets, a full-service spa, and approximately 685 acres of excess land presenting future development potential.

Further information regarding the sale can be accessed on the Colliers Canada website.  Information regarding the receiver's activities is available on PwC's website.