Quebec-based Germain Hotels has secured a $160-million investment to accelerate its national expansion.

The financing round was led by Caisse de dépôt et placement du Québec (CDPQ), with support from the Fonds de solidarité FTQ and Investissement Québec.

“This additional investment marks an important milestone in the growth of our family business,” said Jean-Yves Germain, the company’s co-founder and co-president. “It gives us the means to achieve our ambitions while remaining true to our core values.”

The investment aims to support Germain Hotels’ continued growth across Canada, strengthen its property network, and simplify its structure by merging Groupe Germain and Alt Canada Investment Corporation under a single entity. The company currently operates 19 properties under the Le Germain, Alt, and Escad banners.

Upcoming developments include the launch of Alt Hotel Ottawa Airport in fall 2025, followed by new Le Germain properties in Montreal and Vancouver.

“For nearly 15 years, CDPQ has played a major role in supporting Germain Hotels at three key moments in its expansion across Canada,” said Kim Thomassin, executive vice-president and head of Quebec at CDPQ. “By leading this new round of financing, we continue to stimulate the growth of a Quebec 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.”

The Fonds and Investissement Québec are also adding to their previous financial support for the hotel firm. Germain has received long-standing support from institutional and private investors over its 35-year history.

Image: CNW Group/Germain Hotels

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