Destination Montreal! The brand's first property in Quebec is due for completion and opening in 2011.

The Waldorf=Astoria Collection, one of the luxury brands of Hilton Hotels Corporation, and Monit Investments are pleased to announce the signing of a development agreement for The Waldorf=Astoria Hotel & Residences Montreal.

The $200 million investment, which will include 250-hotel rooms and 76 Waldorf=Astoria Residences, will be the brand's first property in Canada. Planning is now underway for a summer 2011 completion and opening.

"We are excited to extend the legendary cachet of the Waldorf=Astoria to Montreal," said Ross Klein, global head of luxury & lifestyle brands, Hilton Hotels Corporation. "With this new announcement, The Waldorf=Astoria Collection continues to expand worldwide, delivering our signature elements, such as intuitive service, remarkable dining and customized spa experiences. Guests will have a bevy of options to discover local culture and engage in memorable, unique experiences that will last a lifetime."

In addition to the hotel's 250 rooms and 76 residences, the 32-story Waldorf=Astoria Montreal will feature 15,000 square feet of ballroom and meeting space, signature restaurants, bars, and a luxury spa and fitness center. The Waldorf=Astoria Montreal is steps away from the city's best restaurants, shopping, museums, history and more.

"Montreal is a culturally rich city that is on the forefront of design, art, entertainment, culinary achievements, and other pillars that define a great city, making Montreal an ideal fit for The Waldorf=Astoria Collection," said Alex Kotler, chairman of Monit Investments.

Barry Kotler, president of Monit Investments, added, "Waldorf=Astoria sets the standard worldwide for elegance, and we are delighted to be an integral part of the luxury brand's growth and to bring The Waldorf=Astoria's renowned service to Montreal."

The Waldorf=Astoria Montreal will be located at 1500 Sherbrooke Street West, Montreal, Quebec, H3G1H6, Canada.