Cypress Bowl Recreations, the company which operates the skiing facilities in Cypress Provincial Park, on Vancouvers North Shore, has been bought by Boyne Resorts.
The new American owners say theyre planning to invest $40 million to improve facilities at Cypress Mountain, which operates under a 50-year park permit.
Cypress Mountains marketing director Matthew Broadbent welcomed the sale and the new investment.
"Boyne is a company that has demonstrated a solid commitment to the ski industry for over 55 years," he said. "Their investment will be a major plus for the park, making Cypress Mountain a world class skiing and recreation facility."
He explained that the new funding would also allow Cypress Mountain to complete its Master Development Plan to upgrade and expand its facilities.
The plan was approved by Cypress Provincial Parks owners, the Ministry of Environment, Lands and Parks, in 1997. Cypress Bowl Recreations previous owners, Wayne Booth and Milan Ilitch, had looked for a partner to finance the developments before they sold the company to Boyne Resorts.
The improvements outlined in the plan include the development of a new alpine and nordic base area, the installation of new lifts and the construction of a100-seat restaurant at the summit of Mount Strachan.
Under the new owners, this should be completed within the next five years.
"We have great respect for the natural environment and this spectacular setting and we will be bringing that into our future visions," said John Kircher, the head of Boynes western operations. "Cypress is a beautiful area with breathtaking views and excellent winter and summer potential."
Boyne Resorts, a family-run business based in Michigan, is one of North Americas top five winter resort operators. It owns six major ski and summer resorts, including Montanas Big Sky, Crystal Mountain in Washington and Boyne Highlands and Boyne Mountain in Michigan.
Its founder, Everett Kircher, installed the worlds first triple chair in 1964 at Boyne Highlands and unveiled the first four-person chair at Boyne Mountain in 1969.