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On January 16, 2025, four First Nations—Naskapi Nation of Kawawachikamach, Mi’gmaq of Gespe’gewa’gi, Huron-Wendat Nation, and Cree Nation—through their entity Atenro, partnered with InnVest Hotels to acquire a majority stake in Hilton Québec. While the transaction value was not publicly disclosed, it marks a landmark Indigenous investment in Quebec’s hospitality sector. Hilton will continue to manage the property, with InnVest acting as asset manager on behalf of the new ownership group.
Atenro, meaning “friendship” in the Wendat language, is backed by Taasipitaakin Trust, Mi’gmawei Mawiomi Resources LP, Wendat Investment Corporation LP, and James Bay Eeyou Corporation. The initiative exemplifies growing economic participation and diversification efforts by Indigenous communities, whose revenues from sectors like wind energy are being reinvested into hospitality and cultural ventures. Leaders highlighted the acquisition’s importance in promoting Indigenous heritage, financial autonomy, and job creation, with plans to retain all existing staff and provide employment and training opportunities for First Nations members.
Hilton Québec, a flagship hotel in Quebec City with 569 rooms, 23,000 square feet of meeting space, and direct access to the Quebec City Convention Centre, is known for its premium location and service quality. Legal and advisory support for the acquisition was provided by Atmacinta, Cain Lamarre, Plan A Capital, and Gowling WLG. Credit financing was arranged by Bank of Montreal and First Nations Bank of Canada.
Parties
Company
Atenro S.E.C.
Company
InnVest Hotels
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ActiveClosing Date