Kicking Horse Mountain Resort’s December 29 sale to Calgary-based Resorts of the Canadian Rockies will help the development achieve the solid footing needed to thrive and grow, Stuart McLaughlin, who co-developed the $250 million resort in 2000, told Business in Vancouver January 6.
Netherlands-based Ballast Nedam was Kicking Horse’s primary developer and it bought McLaughlin’s stake years ago. Ballast Nedam would not disclose how much RCR paid for the resort.
“I think Ballast Nedam did a fantastic job not only getting [Kicking Horse] to the point where it is but creating the brand and keeping the quality that it is,” McLaughlin said.
“Now, having a more localized ownership with the ability to invest further will help Kicking Horse.”
RCR now owns six Canadian ski resorts including nearby resorts such as:
- Nakiska Ski Area in Alberta;
- Fernie Alpine Resort; and
- Kimberley Alpine Resort.
“I'm confident there will be strong synergies across all resorts and opportunities for continued growth,” said resort president Steve Paccagnan, who will continue to be in charge under the new ownership.
Glen Korstrom
@GlenKorstrom