Less than two years after it acquired Grouse Mountain, a company with strong links to China has decided to sell the recreational and tourist destination on Metro Vancouver’s North Shore, returning the property to a Canadian family.
Northland Properties Corporation (NPC) announced today it has entered into an agreement to buy Grouse Mountain Resort from CM (Canada) Asset Management Co. Ltd.
The Vancouver-based company is owned by Tom Gaglardi and his family, who also own the NHL Dallas Stars, the restaurant chains of Moxie’s Grill & Bar, Chop Steakhouse & Bar, Denny’s Restaurants, and over 50 hotels across Canada, including the Sandman Hotel Group and The Sutton Place Hotels brands.
Additionally, they own a number of ski resorts, including Revelstoke Mountain Resort and Selkirk Tangiers Heli Skiing. The conglomerate employs over 12,000 people across its properties and divisions.
NPC is also a key partner with Aquilini Investment Group in their plans to build the long-envisioned $3.5-billion Garibaldi at Squamish ski resort.