The winning bid for the iconic Fairmont Château Montebello was awarded to Westmont Hospitality, the Mississauga-based company that owns, manages and advises hundreds of hotels across the globe. Westmont was one of five binding offers that were considered by PricewaterhouseCoopers, the court-appointed receiver for the hotel and its properties after they were put up for sale in 2024. That list was narrowed to 19 qualified bidders in the second phase with 11 binding offers, which was further narrowed to five binding offers in the third phase of bidding. "The market was tested not once, but three successive and increasingly competitive phases, culminating in a final round of bidding that yielded materially improved offers," according to PWC. The Westmont bid "does not represent the highest headline cash consideration" among the five final offers, according to the court filing.