A national historic site in Winnipeg could soon be under new ownership.

The elegant Fort Garry Hotel is up for sale, according to a brochure posted online last week by the real estate brokerage and management company Cushman & Wakefield.

The current managing partners, Ida Albo and Richard Bel, along with the Laberge Group out of Quebec City, are selling the 10-storey hotel.

"It's time for a new group to take it to the next level," Albo said.

"We've enjoyed success and the wonderful privilege of enhancing a landmark Winnipeg hotel, but now it's time to hand off to another team."

Curtis Gallagher, the vice-president of hotel investments for Cushman & Wakefield Global Hospitality, told CBC News on Saturday he expects the hotel — which has 240 guest rooms, a meeting space, spa and fitness centre — to sell for around $40 million.

The Palm Room at the Fort Garry Hotel. The real estate company responsible for selling the 240-room hotel expects it to sell for $40 million. (fortgarryhotel.com)

Though some guest rooms require upgrades, he said, "it's a beautiful hotel and it's in structurally good condition."

On Broadway and near The Forks National Historic Site, the downtown hotel is in "a great location and Winnipeg's growing as well, so it's all positive," he said.

National historic site

The Fort Garry Hotel was designed by Montreal architects George A. Ross and David H. MacFarlane, according to the Manitoba Historical Society. It was built between 1911 and 1913 as one of Canada's grand railway hotels, sitting just a block from Union Station.

Though it has changed hands several times, it has operated continuously as a hotel since it opened in 1913.

The Fort Garry Hotel circa 1924. Built in 1913, it has been designated as both a national and a provincial historic site. (Archives of Manitoba)

It was designated a national historic site in 1981, and a a Manitoba provincial heritage site in 1990.

Room 202 of the hotel has gained notoriety for allegedly being haunted.