Calgary-based Resorts of the Canadian Rockies has purchased the Kicking Horse Mountain Resort near Golden, B.C. from Dutch-based Ballast Nedam. While the purchase price was not disclosed, Western Investor sources say it was close to $28 million.
"We are proud to be joining the RCR family of resorts. I'm confident there will be strong synergies across all resorts and opportunities for continued growth" said Steve Paccagnan, who will remain president of Kicking Horse Mountain Resort under the new ownership.
It remains business as usual at Kicking Horse Mountain Resort, and all existing ski packages, passes and joint agreements will continue to be honoured, according to Paccagnan.
About 400 homes have been built and sold at Kicking Horse since the development opened.
Resorts of the Canadian Rockies Inc. is one of the largest private ski resort owner/operators in North America, now owning six ski resorts across Canada, including three on the B.C. side of the Rockies. In addition to the ski resorts, Resorts of the Canadian Rockies Inc. also owns and operates a number of accommodation properties, golf courses, and a central reservation agency.
Kicking Horse Mountain Resort is the first, four-season resort to open in the Rockies in over 25 years.The resort recently obtained Provincial approval of a 40-year Master Plan which calls for a world class, destination mountain resort with an expanded controlled recreation area, 20,000 bed units, an 18-hole signature golf course, a multi-use trail system with two proposed lifts and 4,188 acres of skiable terrain. The 2011-12 Season introduced a new Learning Centre to accommodate families and beginner skiers, a new partnership with Brewster Travel Canada, WestJet Airlines, and Budget Rent A Car combined with a new Central Reservations powered by VacationRoost.
