BCF represents new purchaser of Hôtel Le ConcordeNovember 26th, 2014
Hôtel Le Concorde in Quebec City officially opened its doors on October 22nd. The BCF team actively represented the new purchaser, a group of hotel owners led by Jean-Guy Sylvain, in a deal that made headlines last spring.
The $13 million transaction will create over 300 jobs and revive a legendary hotel on the Grande Allée. Major improvements to the tune of $6 million will be made to the hotel during the first year of operation. They will include the opening of two restaurants, including Le Ciel on the 28th floor, a revolving restaurant providing a bird’s-eye view of Quebec City. The group of business persons, which manages over 5,000 rooms in Quebec, promises that the hotel will remain affordable.
“This transaction was a major challenge since we had one week to make an offer, come up with financing, conduct a due diligence and wrap up the sale, said François Valin, a partner at BCF involved in this file. We had to deliver the goods.”
Besides François Valin, several of BCF’s lawyers were involved in the deal: Jean-Raymond Castelli, Didier Culat, Serge LeBel, Éric Orlup and Guillaume Rochette.