Four First Nations have joined forces to acquire a majority stake in a Hilton hotel in Quebec City.

Hilton Québec is located just outside the Old City, a popular tourist area that dates back hundreds of year. The four First Nations and Innvest Hotels will own the venues together in what the parties describe as a historic move.

Hilton will continue to manage the property.

“Hilton Québec is a high-performing hotel in our portfolio, and this very important agreement with our First Nations partners in Quebec allows us to unlock the value of this property while providing a dynamic new investment opportunity for new owners,” said Lydia Chen, InnVest’s CEO.

Directly connected to the Quebec City Convention Centre, the hotel contains 569 rooms and spacious suites with views of the city. The venue also sports the largest ballroom in the region and 22 meeting rooms spanning 23,000 square feet.

Other features include a bar and two restaurants, a fitness centre and a heated outdoor swimming pool.

The deal marks a significant step in Indigenous economic development, said the four First Nations.

The new ownership group, operating under the entity Atenro—meaning “friendship” in the Wendat language—includes the Naskapi Nation of Kawawachikamach, the Mi’gmaq of Gespe’gewa’gi, the Huron-Wendat Nation, and the Cree Nation. Their collective goal is to strengthen economic participation while promoting cultural heritage.

“Our new partnership demonstrates the willingness of Indigenous communities to invest in the economy in a sustainable way and to strengthen their financial self-sufficiency,” said Fred Vicaire, CEO of Mi’gmawei Mawiomi Business Corporation. “The revenues generated by our other investments, such as wind, allow us to diversify our investments.”

The deal reflects a broader trend of Indigenous communities expanding their economic footprint in Quebec. The new majority owners aim to integrate Indigenous culture into the Hilton Québec experience while maintaining the hotel’s high standards of service.

Henry Gull, president of the James Bay Eeyou Corporation, emphasized the broader impact of the acquisition.

“By investing in hospitality properties, we have the opportunity to create spaces that showcase our heritage and allow visitors to learn more about our cultures,” he said. “It also strengthens our economic position and financial autonomy, while contributing to the sustainable development of our communities.”

Louise Nattawappio, chief of the Naskapi Nation, said the acquisition demonstrates how First Nations can play a role in Quebec economic development while while preserving and enhancing their unique cultural heritage.

“The development of our communities also requires strategic investments outside the territory,” she said.

The hotel is situated on the traditional lands of the Nionwentsïo peoples.

Grand Chief Pierre Picard of the Huron-Wendat Nation said the “historic” transaction honours the memory of the Wendat ancestors who once had an important network of trade and trade alliances.

“We continue in the same tradition and set an example for our younger generations,” he said.

Toronto-based InnVest ranks among Canada’s hospitality industry leaders. The firm specializes in asset management, construction and hotel operations.

Its portfolio comprises about about 100 owned and managed hotels bearing globally recognized brands.

The agreement includes plans for employment and training initiatives aimed at First Nations members, with all current jobs at the hotel being maintained.

Located near Old Quebec City and Parliament Hill, Hilton Québec is a prominent landmark in the province’s hospitality industry. The hotel features 569 rooms and suites, conference facilities, and dining establishments.

The acquisition was facilitated with the support of the Bank of Montreal and the First Nations Bank of Canada, which are providing credit financing. Atmacinta, Cain Lamarre, Plan A Capital, and Gowling WLG advised the parties on the acquisitions.

The four First Nations involved each bring unique histories and economic strengths to the partnership. The Naskapi Nation of Kawawachikamach, near Schefferville, is known for its involvement in the energy and natural-resource sectors. The Mi’gmaq of Gespe’gewa’gi, with communities in Gaspésie, focus on strategic investments for long-term development.

The Huron-Wendat Nation, based in Wendake near Quebec City, has a legacy of trade and alliances. The James Bay Eeyou Corporation represents the Cree Nation in northern Quebec and manages economic initiatives tied to hydroelectric development.

Photo: Hilton Québec