February 13, 2008

Resort Development

Ken Fowler Enterprises plans $1 billion expansion for British Columbia’s Fairmont Hot Springs

The new owner of Fairmont Hot Springs (FHS), which is the largest therapeutic mineral hot springs in Canada, is creating a master plan for a $1 billion expansion.

Ken Fowler Enterprises (KFE) announced the acquisition of the Riverside Golf Resort south of Columbia Valley, B.C. on Jan. 24. It includes the Riverside golf course, an 18-hole Championship course, clubhouse, and 1,000 acres of developable land.

KFE will include Riverside into its review and evaluation of the 3,000 acre FHS resort.

“The acquisition of Riverside Golf Resort is part of Ken Fowler Enterprises’ plan to create more of a good thing at Fairmont Hot Springs,” said Richard Haworth, VP Development, Fairmont Hot Springs,

“Riverside is an integral component of unifying Fairmont Hot Springs and the Master Plan will now reflect the entire land area.”

The master plan will include an expansion of the natural hot springs, an enhanced spa and wellness centre with newly designed hot springs pools and a new resort/retail village with luxury hotel condominiums. The revitalized FHS will feature an outdoor event plaza and walking trails linking the entire community.

FHS is also commissioning a study on ski hill expansion and evaluating enhancement for the existing championship golf courses. The new master plan will provide details on the timeline for completion of new single family home sites, townhomes, condos and hotel rooms.

KFE is a private investment firm with more than $200 million invested in a range of companies, with annual revenues of about $1.3 billion.

KFE is also developing Red Leaves, the new, luxury resort community on Lake Rosseau in Muskoka, Ontario.

JOC News Service

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