Jealous of that acquaintance of yours who has a ski chalet? Well, now you have a chance to one-up them by buying a whole ski village… as long as you have $100 million lying around.
Driving the news: LaSalle Investment Management is reportedly putting Mont-Tremblant village on the market, per The Logic, seeking ~$100 million for the ski town/shopping centre in Québec. The village is separate from the ski resort, which is owned by Alterra Mountain Company.
- Chicago-based LaSalle purchased the nearly 135,000-square-foot area — which is styled to look like a quaint Alpine ski town and boasts 75 stores — in 2018 for $68 million.
- LaSalle previously explored selling Mont-Tremblant village in 2023, also looking for $100 million, but couldn’t find a buyer despite interest from local real estate developer Brasswater.
Why it matters: Though it’s not a ski resort, the village is still a part of Canada’s outdoor recreation economy, which a report from last year valued at $101.6 billion annually. The outcome of this sale could be a barometer for demand for recreation-adjacent properties.
Zoom out: While Canada’s ski sector has boomed in recent years, with operating revenues more than doubling between 2012 and 2023, it faces an existential threat as warmer weather shortens the ski season, putting the long-term profitability of places like Mont-Tremblant in question.—QH