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« Previous Story | The Industry Report Home Page | Next Story » Mount Norquay Changes HandsBy J.D. O'Connor A group of local investors have pooled resources to help rescue Banff's Mount Norquay and keep it from being shut down, area newspapers are reporting. Albertans Ken Read, Stephen Ross, Jeff Kohn, Scott Hutcheson and the Sudermanns of Fortune Resorts could not let the struggling area go out of business, they said, buying in to help save a "key asset to the ski-resort base of Western Canada." Long a favorite of local skiers, Norquay has been a losing proposition for the past several years. Curent owners said low snowfall, a decline in skier visits, stringent wildlife preservation guidelines and national park development restrictions have made business difficult, according to the Calgary Herald. "(Mount Norquay's) continued survival will essentially mean that Banff remains a ski town," Stephen Ross told the Herald. Ski racing and family skiing will apparently remain a focus of the area. Investor Read is a five-time World Cup downhill racer. « Previous Story | The Industry Report Home Page | Next Story » |
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