"We're very pleased to count on the renewed commitment of high-quality partners," said Jean-Yves Germain, Co-Founder and Co-President of Germain Hotels. "This additional investment marks an important milestone in the growth of our family business. It gives us the means to achieve our ambitions while remaining true to our core values."
"For nearly 15 years, CDPQ has played a major role in supporting Germain Hotels at three key moments in its expansion across Canada," added Kim Thomassin, Executive Vice-President and Head of Québec at CDPQ. "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."
"Since its inception, Germain Hotels has distinguished itself by its ability to innovate in a changing sector. As a long-time investor, we are proud to once again support this flagship of Québec's hotel industry as it continues to grow," said Dany Pelletier, Executive Vice-President, Private Equity and Impact Investing at Fonds de solidarité FTQ.
"Investissement Québec is proud to once again join forces with Germain Hotels. By increasing its stake in this Québec flagship company, the government corporation reaffirms its commitment to supporting local businesses at every stage of their growth and fully embraces its role: fostering the growth of Québec companies and propelling them to global leadership in their respective industries," added Bicha Ngo, President and CEO of Investissement Québec.
Grouping Activities Under a Single Entity
In light of this investment, Germain Hotels is also announcing the merger of Groupe Germain Inc. and Alt Canada Investment Corporation SEC into a single entity, now operating as Germain Hotels. This strategic alliance aims to simplify the organizational structure and support the next phase of the company's growth.
Since the creation of the Alt banner, Germain Hotels has always been able to rely on the steadfast support of its institutional partners and private investors. As some of them have chosen to step back at this stage, we would like to take this opportunity to extend our sincere gratitude. Their support has played a vital role in the growth of our network and in shaping the distinctive identity of Alt Hotels.
Continued Growth Across Canada
With its 19 properties, Germain Hotels continues to expand its presence across Canada with the opening of Alt Hotel Ottawa Airport in fall 2025, followed by Le Germain Hotel Casino de Montréal, and finally, Le Germain Hotel Vancouver, in the coming years. The company is committed to pursuing its mission of offering distinctive and authentic hotel experiences from coast to coast. "Merging into a single entity will strengthen Germain Hotels' agility and give it the financial and organizational resources to seize new opportunities in the Canadian hotel market. We are enthusiastic about the opportunities that lie ahead and about promoting Québec's expertise," said Christiane Germain, Co-Founder and Co-President of Germain Hotels.
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About Germain Hotels
For over 35 years, Germain Hotels has made a name for itself through attentive service and innovative practices. We are a proud family business operating for three generations. With 19 properties across Canada (and counting), we bring guests iconic style and ultimate comfort through our Le Germain, Alt and Escad hotels.
Recognized as one of the 50 best-managed companies in the country, we take pride in the emotional connection that we forge with our guests, our team members and our surrounding communities. With us, one thing is certain: the well-being of our guests is our priority. Visit: Germain Hotels
About CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As of December 31, 2024, CDPQ's net assets totalled CAD 473 billion. For more information about CDPQ, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model founded over 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of 795,374 shareholders-savers.
With net assets of $21.7 billion as at November 30, 2024, the Fonds supports close to 4,000 companies, both directly and indirectly through venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or our company page on LinkedIn .
About Investissement Québec
Investissement Québec's mission is to play an active role in Québec's economic development by stimulating business innovation, entrepreneurship, and business acquisitions, as well as growth in investment and exports. Operating in all the province's administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from Investissement Québec Innovation. In addition, through Investissement Québec International, the Corporation prospects for talent and foreign investment, and assists Québec businesses with export activities.
SOURCE Germain Hotels
For more information or to request an interview: France Savard, Public Relations and Partnership Advisor - Germain Hotels, [email protected], 514.916.3467; CDPQ, + 1 514 847-5493, [email protected]
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