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Jumbo failure highlights ski resort developers’ uphill fight – Business in Vancouver

January 28, 2020

Glacier Resorts Ltd.’s decision to end 30 years of working to create a year-round ski resort in B.C.’s Kootenays region offers a cautionary tale for aspiring resort developers in Valemount and near Squamish.

Glacier has agreed to an undisclosed payout to sell its ownership and development rights in its Jumbo Glacier Resort project, while clearing the way for resort opponent Ktunaxa Nation to use up to $16 million in federal funds, and about $5 million in other money, to create a protected Indigenous conservation area. Some of that money might flow to Glacier as part of the deal.

Glacier’s executives now join their counterparts in other development groups that long touted projects, such as Canoe Mountain in the Rockies and Cayoosh Mountain between Whistler and Lillooet, only to fold their tents.

Read More: https://biv.com/article/2020/01/jumbo-failure-highlights-ski-resort-developers-uphill-fight

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