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Turnberry is a two phase, 51 home subdivision at the Bear Mountain development in the municipality of Langford on Victoria's Westshore.
Home sites are situated along the ninth fairway and overlook the eighth green of Bear Mountain's Mountain Course.
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The worst business decision ever made was Ecoasis selling the hotel to raise some capital. They lost so much by this stupidity. They lost their parking lot, stair access from the hotel lobby to the pro-shop, no kitchen to provide food, no ability to offer stay and play packages etc. etc.
They did gain a bunch of lawsuits though.
Ecoasis, which bought Bear Mountain in 2013, has entered into what it calls a “working alliance” with businessman Raoul Malak that will see Malak take control of the Westin Bear Mountain.
Ecoasis will continue to own the resort’s golf and tennis operations and all developable lands.
Terms of the deal were not announced, but Ecoasis chief executive Dan Matthews said he expects Malak’s involvement will “elevate the overall customer service and experience.”
In a statement, Matthews said Ecoasis spent the past five years working to reposition the resort community.
“We are now at a stage in our business and growth strategy whereby we are actively entering into relationships with like-minded companies and individuals that have the passion and expertise in specific disciplines that make up a multi-faceted resort like Bear Mountain,” Matthews said.
Ecoasis laid the groundwork for the sale of the hotel in 2017 when it hired Jones Lang LaSalle to review the resort’s assets and to find a buyer or a partner.
At the time, Ecoasis pointed out it was not a real estate development company and was looking for the right kind of partners to tackle the job of developing another 2,500 units on the site, and enhancing the resort community.
Ecoasis said it would consider all options, including selling the site outright.
https://www.timescolonist.com/business/bear-mountain-resort-hotel-sold-to-businessman-raoul-malak-4674393
Ecoasis, which bought Bear Mountain in 2013, has entered into what it calls a “working alliance” with businessman Raoul Malak that will see Malak take control of the Westin Bear Mountain.
Ecoasis will continue to own the resort’s golf and tennis operations and all developable lands.
Terms of the deal were not announced, but Ecoasis chief executive Dan Matthews said he expects Malak’s involvement will “elevate the overall customer service and experience.”
In a statement, Matthews said Ecoasis spent the past five years working to reposition the resort community.
“We are now at a stage in our business and growth strategy whereby we are actively entering into relationships with like-minded companies and individuals that have the passion and expertise in specific disciplines that make up a multi-faceted resort like Bear Mountain,” Matthews said.
Ecoasis laid the groundwork for the sale of the hotel in 2017 when it hired Jones Lang LaSalle to review the resort’s assets and to find a buyer or a partner.
At the time, Ecoasis pointed out it was not a real estate development company and was looking for the right kind of partners to tackle the job of developing another 2,500 units on the site, and enhancing the resort community.
Ecoasis said it would consider all options, including selling the site outright.
https://www.timescolonist.com/business/bear-mountain-resort-hotel-sold-to-businessman-raoul-malak-4674393
Yeah, didn't turn out quite like they hoped. The overall customer service and experience went straight downhill.
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