The owners of Mount Washington Alpine Resort have quietly put the Island’s only commercial ski hill on the market.
“It’s probably been in the process for six to eight months,” Don Sharpe, director of business operations, told CHEK News. “Our ownership group is getting a little bit older now, and looking for new opportunities and new things to do.”
Sharpe did not reveal the asking price or any offers. “It’s a private, strategic sale and who knows at this time where it will end up.”
Comox Valley real estate agent Rick Gibson, who is not involved in the sale, said the resort is managed well, and the sale is no indication of financial problems. “The current ownership group has done a phenomenal job of developing Mount Washington, but they’re done. They’re ready to do other projects,” said Gibson.
Mount Washington was incorporated in 1977. Peter Gibson is its president and Brian Stamp its secretary. Other directors listed on the provincial ownership registry are Darryl Eddy and Michael Fitch, each with Vancouver addresses, and Campbell River residents Edward Foster and George William Stuart.
Peter Gibson, originally from Courtenay, helped carve out the resort in the 1970s, by using a chainsaw to clear land. He was a friend of the son of one of the project’s developers. When the resort officially opened in fall 1979, Gibson was director of skiing, rising to president in 2001, the resort’s website says.
Owners have continued to invest in the resort. Recent upgrades include installation of child-friendly lifts on novice runs, and this season, a new lift and relocation of the tube park.
“They recognize there’s a lot more to do, but they’re not going to do it,” said Rick Gibson, the real estate agent. “They’re ready to step aside and let someone else take Mount Washington to the next level.”
The resort has struggled with lack of snow this season, missing the lucrative Christmas season and only opening a week ago.
Members of the Tourism Mount Washington Association learned of the decision to sell in the summer.
At the group’s annual general meeting, chairman Tobin Leopkey reported: “This is a strategic sale, not a distress sale,” according to the minutes of that meeting, held Aug. 13. The report said owners have “reviewed their business plans and are . . . not scaling back, just restructuring and improving their focus.”
Rick Gibson said the resort has been “unofficially for sale for several years.” But the sale should not negatively affect skiers or owners of recreational properties on the resort. “They’ve done a good job, but they’re not prepared to invest more money and get into debt.”
There is no for-sale sign on the property, nor is it mentioned on Mount Washington’s website. Commercial real estate company CBRE Canada is handling the sale. “They’re going to clients and saying: ‘We have this available,’ ” Rick Gibson said.
Chris Rust, associate vice-president of CBRE, said an agreement with the owners limits what he can say publicly about it, including the selling price or the date it went on the market. “I can tell you it’s a wonderful opportunity,” Rust said.
Mount Washington opened in the 1970s as one of the first planned ski resorts in B.C. Over the years, high-performance ski lifts and other equipment was installed. Other improvements included trails and facilities.
The resort has runs for advanced and novice skiers over 648 hectares of terrain. Snowfall averages 1,006 centimetres a year, but a milder coastal climate can delay the season. The mountain opened to skiers this week and has a 90-centimetre base.
— With files from Carla Wilsonn
