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Update: Fairmont Hot Springs sold to Aldesta Hotel Group for $40M

Landmark resort includes 1,200 acres of land, much if it undeveloped.

The famous Fairmont Hot Springs resort near Invermere and Radium Hot Springs, B.C., has sold to the Aldesta Hotel Group for $40 million.

The resort, which has been on and off the market for years, includes a massive parcel of land, a golf course with a total of 45 holes, a ski hill with 14 runs and two terrain parks and, of course, the hot springs.

More than 1,200 acres of land are included in the deal, only a fraction of which have already been developed, according to Mark Lester of Colliers, who was among the Colliers brokerage team on the deal, announced June 13.

The developed portion includes a main lodge and cabins with a combined total of 151 guest rooms, all connected to what the listing rightly claims are "Canada's largest natural mineral hot springs," which Colliers highlighted as "a key distinguishing competitive advantage."

Vancouver based Aldesta Hotel Group is a subsidiary of Saliance Global Holdings Co. Ltd.  In B.C., Aldesta owns the Harrison Hot Springs Resort, Poet's Cove Resort & Spa and the Harrison Lake Hotel.