After going on the market back in September 2016, a deal is being finalized to sell Grouse Mountain B.C. The current owners, the Mclaughlin Family, were asking a price of $200 million CAD for the 1,200+ acre area of land. Although the details have not been released, it is believed that they will be selling the resort to the Minsheng Investment group, China’s Largest Private Investment Firm. Minsheng manages over $9 billion in capital, and has been compared to New Yorks Blackstone Group for its investments in Real Estate, Hospitality, Health Care, Tech, and Finance. The group saw buying Grouse Mountain as an opportunity to capitalize on the Chinese public’s heightened interest in snow sports leading up to the 2022 Winter Olympics in Bejing. Vancouver is already one of the most popular spots in the world for Chinese tourists, so purchasing Grouse Mountain was a naturally easy choice for Minsheng. This is the groups first Venture into the Canadian Ski Industry.
While changing ownership is always a big deal for a Ski Resort, don’t expect any sweeping changes to Grouse Mountain right away. Spokesperson Julia Grant has said that there will be no changes to the staff, management, or operations following the sale. This will come as a relief to many of the Vancouverites who help make up the 1.3 million skiers who visit Grouse Mountain each year. Grouse Mountain is a North Shore classic that features 26 runs, 4 lifts, and a tram. In the coming years, the Mountain could see new lifts, some new terrain, and a lift serviced bike park. Hopefully Grouse can keep its local flare in spite of the new ownership.