A new majority shareholder has joined the Massif du Sud tourist resort of Saint-Philemon with the intention of developing this little gem in the heart of the Appalachians.
The announcement of the transaction on Wednesday could not have come at a better time, with the arrival of the first snowfall.
Pierre-Yves Charest becomes president of the station and becomes the majority shareholder through his company Contrast Immobilier, of which he is the sole shareholder.
His interest in the Massif du Sud goes back many years, to the time Mr. Charest, Yvonne Charest’s son, built a wind farm on the site as an engineer.
The new shareholder is excited about the challenges ahead.
“My entire team is very excited to contribute to the development of the mountain. We’re used to doing slightly more specific uses like multi-dwelling construction. Our team is young, dynamic and sporty. They are big consumers of mountain biking, alpine skiing, so this transaction really excites everyone,” said Mr Charest.
Discussions started a year ago. Mr. According to Charest, this space offers strong development potential in all four seasons. In addition to the fact that the alpine ski resort receives an average of 700 cm of snow per year, the site has many attractions for outdoor enthusiasts.
“We want to develop the mountain from a recreational tourism perspective to make it attractive in all four seasons by developing activities like mountain biking, hiking and gravel biking, which is also evolving.”
The transaction value was not disclosed. Former President and CEO of Massif du Sud Tourist Resort, Alain Content, will be the company’s CEO to ensure continuity. He will be involved in development as an advisor to the new team.
“He is very knowledgeable in entertainment tourism. He is someone who knows the mountain well and we need him to develop it and breathe new life into it,” added Mr Charest.
Mr. Contant remains a minority shareholder.
“We also want to do real estate development, the accommodation level or the current building level needs a bit of love and we will be announcing more specific investments soon.”
“A global plan like this can’t be developed in a few weeks, it will take months or even years to ensure that all the uses we’re going to do are well suited.”
The next ski season, which starts in early December, will feature some novelties such as the introduction of electronic access cards to avoid queues at the ticket office. These cards can be recharged directly on the Massif website.
Pierre-Yves Charest’s father, Yvon Charest, is leading the fight in favor of reinvestment in Mont-Sainte-Anne’s infrastructure.
“My father had his personal complications and I had mine. There is no connection between the two,” assured the businessman.