Skiers offered a share in Red Mountain

24th August 2016, by Abi Butcher

Red Mountain ski resort is offering skiers the chance to own a piece of the powder highway

The cult ski resort of Red Mountain in Canada is trying a new strategy to raise money for its next expansion — crowdfunding.

The British Columbia resort is offering skiers the chance to own a piece of the powder highway, as CEO Howard Katkov explains. While crowdfunding is nothing new for technological innovations, this might be the first time an entire ski resort is planning to place itself up for shared ownership — in Red’s case with the hope of raising between CAN$5 and $10million.

Participants can invest any sum between $1,000 and $25,000, representing ownership in all of Red Mountain’s assets including “undeveloped land, chair lifts, lodges, everything”, according to Katkov, who purchased the ski resort in 2004 along with a series of investors.

“You own a piece of everything,” said Katkov, who is currently gauging interest in the project (see the YouTube video - to which we can’t link as it is unlisted). In return, he says investors will “get perks like lift tickets and membership to a club house” along with a number of other, as yet to be announced incentives.

Situated on Canada’s Powder Highway, Red Mountain brands itself as “the last, great, unspoiled resort” offering 2,877 acres of skiing “unfettered by over-development”. The first chairlift was installed in 1947 and in 2012 Red Mountain opened a new mountain with 1,000 additional acres of snow-cat accessed skiing.

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