PricewaterhouseCoopers Takes Over Château Montebello Sale

BREAKING: The historic Fairmont Le Château Montebello is officially up for sale, now under the control of accounting giant PricewaterhouseCoopers (PwC). This urgent move comes after a Hong Kong judge directed troubled owner China Evergrande Group to liquidate its assets amidst staggering liabilities of $300 billion USD.

The decision, made earlier in 2024, marks a significant shift for the luxurious resort located in Quebec, which has long been a premier destination between Ottawa and Montreal. The Superior Court of Quebec assigned PwC to oversee the sale process earlier this month, ensuring a swift transition amid ongoing financial turmoil.

In statements to Radio-Canada, Fairmont reassured guests and staff that the resort’s operations will remain unaffected, attributing the financial difficulties directly to its current ownership. “Our management contract remains intact, and we are committed to maintaining the high standards our guests expect,” the spokesperson emphasized.

The Château Montebello, built in 1930 and renowned as the world’s largest log building, boasts over 200 guest rooms, a golf course, and extensive outdoor activities including skiing and snowmobiling trails across a vast 26,000-hectare game preserve. This stunning resort has been a symbol of Canadian luxury since its inception.

Originally acquired by Evergrande in late 2014, the hotel has faced increasing scrutiny as the Chinese company grapples with its monumental debt crisis. The imminent sale of Château Montebello signals a closing chapter for Evergrande’s ownership, leaving many to wonder what the future holds for this iconic establishment.

As the sale progresses, potential buyers and investors are poised to watch closely. The transition management under PwC is critical not only for the financial recovery of the resort but also for the local economy that relies heavily on tourism associated with this historic site.

Stay tuned for developments as the situation unfolds, with more updates expected in the coming days. The future of the Fairmont Le Château Montebello remains uncertain, but its legacy as a cornerstone of Canadian hospitality is firmly established.