KHMR Pending Sale to RCR
Calgary Herald said:
CALGARY — A pending sale of Kicking Horse Mountain Resort in Golden, B.C., to Calgary-based Resorts of the Canadian Rockies is awaiting regulatory approval from the government with the transaction expected to be completed by the end of the year.
“The possible inclusion of the Kicking Horse Mountain Resort brand within the Resorts of the Canadian Rockies family is a strong, strategic fit and establishes a great platform for the future of the resort,” said Kicking Horse Mountain Resort president and chief executive Steve Paccagnan in a statement.
Kicking Horse Mountain Resort, in its 11th year of operation, is the first, four-season resort to open in the Rockies in over 25 years and is one of the few ski resorts in Canada that has had continuous growth in recent years, he said.
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 1,695 hectares of skiable terrain.
Resorts of the Canadian Rockies Inc. (RCR) is one of the largest private ski resort owner/operators in North America, owning five ski resorts across Canada, including Nakiska Ski Area in Alberta; and Fernie Alpine Resort and Kimberley Alpine Resort in British Columbia.
Kicking Horse Mountain is currently owned by construction company Ballast Nedam, based in the Netherlands, which developed the resort.
The Resort is situated next to the Rockies in the Dogtooth range of the Purcell Mountains. Six National Parks surround the Resort – Banff, Glacier, Kootenay, Yoho, Mount Revelstoke and Jasper.
The Resort encompasses 1,113 (more than 1,619 at build-out) hectares of ski and snowboarding terrain. The vertical drop from mountaintop to the village is 1,260 metres, making it the second highest in Canada.
The Golden Eagle Express features Canada’s first, level, walk-in gondola cabins. Each cabin can seat eight passengers. The Golden Eagle Express can transport 600 skiers and sightseers per hour. The 3,413-metre ride takes 12 minutes.
Canada’s highest elevation restaurant, the award winning Eagle’s Eye, is situated at the top of the mountain. It stands at 2,350 metres elevation and can seat 130 indoors.
A two-storey 8,600-square-foot Day Lodge features a cafeteria, retail shop, guest services, ticketing, and mountain school. There are a total of 250 seats indoors and outdoors.
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