Grouse Mountain Resort Sale Finalized
New Owners Committed to Maintaining the Business and Legacy of the Iconic Vancouver Landmark
July 18, 2017
NORTH VANCOUVER, B.C. – Grouse Mountain Resort and GM Resorts Limited Partnership (GM Resorts) announced today that the sale of the Resort has been finalized and GM Resorts has purchased the business. GM Resorts Limited Partnership was established by CM (Canada) Asset Management Co., Ltd. (CM Canada), a Canadian investment and asset management company. The new owners confirm there will be no changes to staff or management, and will continue with business-as-usual operations.
“Grouse Mountain Resort is an important Vancouver landmark that is also a highly successful business. The opportunity to make this purchase is not something we take lightly,” said Kenny Zou, Director, CM Canada. “We understand that Grouse Mountain is treasured by locals and visitors alike. We look forward to working closely with the existing staff, management team, and the community to ensure we maintain the Grouse Mountain experience for all of our visitors.”
Welcoming over 1.3 million guests per year, Grouse Mountain Resort has been under the ownership of the McLaughlin Family for over 40 years. Under their ownership, it has been transformed into the thriving four-season business it is today. During this time, the Resort has seen numerous developments including the hiwus Feasthouse, the Eye of the Wind, the Theatre in the Sky and the addition of The Observatory Restaurant, the establishment of the Grouse Mountain Refuge for Endangered Wildlife as well as the installation of high-speed chairlifts, enhancements to the North Shore’s most extensive snowmaking system and the introduction of zipline tours, snowshoeing and a mountaintop skating pond.
“This is a new chapter for Grouse Mountain, our management team, and staff and we are excited to work with the new ownership,” said Michael Cameron, President of Grouse Mountain Resort. “CM Canada recognizes the accomplishments that Grouse Mountain Resort and its team have achieved over the years, and is committed to working with us to maintain and build on that success.”
The new owners fully support the management’s priorities of putting guests and staff at the forefront while honouring the natural environment that is at the core of the Grouse Mountain experience. They anticipate this transaction will help highlight British Columbia as a top tourist destination and are keenly aware of the vital role tourism plays for the business as well as the local economy.
“There are many people and groups who are valued partners with Grouse Mountain,” added Zou. “We look forward to continuing our strong working relationship with local businesses, tourism, Metro Vancouver and the District and City of North Vancouver.”
As Grouse Mountain Resort enters a new era of ownership, local Vancouverites and prospective visitors can remain confident the Lower Mainland’s number one natural attraction will be preserved and enhanced for generations to come.
About Grouse Mountain:
Grouse Mountain is the number one visitor attraction in the Lower Mainland, with 1.3 million annual visitors. Known as the Peak of Vancouver, we offer unparalleled panoramic views of the city, sea and surrounding mountains along with a wide range of year-round outdoor and educational activities, dining and more. For more information, please visit grousemountain.com.
About GM Resorts Limited Partnership:
GM Resorts Limited Partnership was established by CM (Canada) Asset Management Co., Ltd. (CM Canada) to purchase Grouse Mountain Resort. CM Canada is based in Vancouver, B.C., with more than 60% ownership by Canadian investors. CMIG International is CM Canada’s international investor.
