On December 30, 2004, Starwood Hotels and Resorts Worldwide, Inc. (Starwood), the operator of hotel chains such as Westin, Sheraton and W Hotels,  completed its purchase from Cadim Inc. (a subsidiary of the Caisse de dépot et placement du Québec) of a 49 per cent interest in  901 Square Victoria Limited Partnership, the owner of the newly opened W Montreal hotel. For the purposes of the transaction, the hotel was valued at $34.8 million. Starwood’s management contract at the Hotel was extended as part of the transaction.

Sébastien Thériault of Davies Ward Phillips & Vineberg LLP represented Cadim for competition matters.