Grouse Mountain has officially changed hands after being owned by the same family for decades.
The China Minsheng Investment Group, along with GM Resorts Limited Partnerships, make up the investment group that are the proud new owners of the popular ski and snowboard resort. The deal has been highly anticipated, as the wintry retreat went on the market nearly a year ago.
The total sum of payment? Unknown; however, the Globe and Mail speculated that foreign investors could pay up to $200 million for the resort.
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The McLaughlin family owned the retreat for over forty years and were careful in the selection of the new owners. The holiday destination is seen as a Vancouver landmark and they were well aware of the city’s view of it.
Grouse Mountain New Owners
“We understand that Grouse Mountain is treasured by locals and visitors alike,” said Kenny Zou, director of CM Canada, in a release.
The new owners indicate that they intend to keep the culture and the overall feeling of the resort alive, as many locals have worried that things may change a great deal.
The next ski season will tell what the future of Grouse Mountain will hold for its visitors.
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