Château Laurier on the market

OTTAWA—Ivanhoé Cambridge is putting landmark Ottawa hotel
the Fairmont Château Laurier up for sale, the Financial Post reported.

The hotel is managed by Fairmont and owned by the
Montreal-based real estate subsidiary of the Caisse du dépôt et placement du
Québec.

The 429-room hotel, located near Parliament Hill, opened in
1912 and was named for the seventh prime minister of Canada Sir Wilfred
Laurier.

According to the Ottawa
Citizen
, Ivanhoé Cambridge already sold Fairmont-branded hotels in Winnipeg
and Vancouver, a Delta and Hilton in Toronto, and Westin hotels in Ottawa,
Calgary, Edmonton and Vancouver.

Ivanhoé also recently put the Fairmont Washington and 18
European hotels on the market as part of the company’s divestiture of its
lodging real estate, according to the Post.

The company’s decision to sell most of its hotels – with the
exception of Château Frontenac in Quebec City and Montreal’s Queen Elizabeth Hotel
– was announced earlier in February.

While sale prices have not been disclosed, Real Estate Alert,
a U.S. company that monitors major real estate transactions, estimates the Château
Laurier has a value of about $125 million.