Industry News
Exclusive private Georgian Peaks Ski Club in Ontario, Canada, received $1.37 million in taxpayer-supplied federal COVID relief last year. They also reported a record financial year, three times greater than the previous year.
One of Canada’s most exclusive private clubs (the initiation fee is $43,000 alone), reported a $1.54-million surplus, a 300% increase on the previous year. As a non-profit, Georgian Peaks pays tax only on its investment and property income.
The club also opened a state-of-the-art $13-million lodge and reported a ‘surging’ membership. The club describes itself as “second to none compared to any contemporary skiing venue anywhere.”
“From a membership perspective, 2020/21 delivered a record year for the Club. And as a result, we are proud to say that for the first time in our history the Georgian Peaks membership is ‘full.’ We now have the hottest waiting list on the [Niagara] Escarpment.”
– Membership Committee report
In an in-depth report on CBC, financial statements show that ‘The Peaks’ received $1.203 million under the Canada Emergency Wage Subsidy (CEWS) and a further $166,885 from the Canada Emergency Rent Subsidy (CERS).
Annual dues are $3,000 per person while racing program costs for kids range between $3,000 and $6,000 a season. It’s $2,500 for a premium parking spot and the minimum bar tab, and capital improvement fees and the cost for a family of four easily tops $20,000 to $25,000 a year, reports CBC.
In explaining its decision to claim federal relief, the financials say that the funds supported “over 270 employees.,” They also reported that the Ontario government-ordered ski hill shutdown meant they had to lay off their food and beverage workers.
