RCR Completes Purchase of Kicking Horse
SAM Magazine-Golden, B.C., Dec. 29, 2011-Resorts of the Canadian Rockies (RCR) has completed its purchase of Kicking Horse Mountain Resort, buying the area from Ballast Nedam, the initial owner and developer. RCR is one of the largest private ski resort owner/operators in North America. The two companies first revealed they were in negotiations regarding a sale two weeks ago.
"We are proud to be joining the RCR family of resorts. I'm confident there will be strong synergies across all resorts and opportunities for continued growth," said Steve Paccagnan, who will continue as president of Kicking Horse.
"The addition of Kicking Horse to RCR adds another one of North America's top destination resorts to our family of resorts," said John Shea, RCR chief resorts officer.
It remains business as usual at Kicking Horse. All existing ski packages, passes and joint agreements remain in effect. The resort has had strong start to the season, with more than 12 feet of snowfall season to date.
RCR now owns six ski resorts across Canada as well as a number of accommodation properties, golf courses, and a central reservation agency.
Kicking Horse, now in its 11th year of operation, recently obtained Provincial approval of a 40-year master plan that includes an expanded controlled-recreation area, 20,000 beds, an 18-hole golf course, and a multi-use trail system with two proposed lifts and 4,188 acres of skiable terrain.