Court-ordered sale of Whistler hotel strata units has starting bid of over $12 million
A hotel’s strata units in the Resort Municipality of Whistler are on the market, and the court-ordered sale has an eye-popping starting bid.
Commercial real estate firm Avison Young has listed the Shell Mountainside Lodge at 4417 Sundial Pl., announcing it as a rare opportunity to own in the heart of Whistler Village.
The building itself is not for sale, but the offering includes 42 rentable units across 56 strata lots (of 93 strata lots) for a total of 24,227 sq ft of net rentable space. Shell Mountainside Lodge is also free of branding and management agreements.
“A potential owner will recognize the immediate investment opportunities, with significant revenue potential in such a vibrant, thriving setting that attracts tourists from around the world year-round,” said Curtis Gallagher, the principal, vice president and Canadian hospitality lead of Avison Young, in a statement.
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Shell Mountainside Lodge’s listing comes after Shell Owners Association – Pacific and SVC-Mountainside ULC petitioned the B.C. Supreme Court in January to begin the sale and inventory solicitation process. BDO Canada has been appointed as the administrators of the restructuring proceedings.
Location of Shell Mountainside Lodge at 4417 Sundial Pl. in Whistler. (Google Maps)
Shell Vacations Hospitality
According to a frequently asked questions document prepared by BDO Canada about the lodge, the Petitioners started the proceedings because they faced “significant financial and operational challenges” and were unable to continue their current course of operations without the relief sought in the petition.
“The Shell Mountainside Lodge operates from a building that is approximately 40 years old and requires significant capital improvements to ensure the building stays in good maintenance and repair, to continue operating in the ordinary course, and to keep pace with competitors in Whistler Village,” wrote BDO Canada. “The Petitioners do not have sufficient financial resources to fund the required capital expenditures.
“The current operations are not financially sustainable. Over the years, there have been increased operational costs in conjunction with significant and increasing member delinquencies for non-payment of maintenance and other fees. Over the last few years, the operations have been cash flow negative.”
Shell Vacations Hospitality
Shell Vacations Hospitality
Shell Mountainside Lodge was built in 1981 and is located a three-minute walk from the Whistler Village Gondola. Currently operating as a timeshare, it includes a variety of shared amenities such as an outdoor pool and hot tub, storage for skis, snowboards and bicycles, laundry facilities, a fitness centre, and underground parking.
The boutique hotel is zoned for tourist accommodation and is made up of studio, one-bedroom, and two-bedroom units. It remains open as the sale progresses, and the site is designated for up to eight storeys.
The sale of Shell Mountainside Lodge will occur in two phases. The minimum bid amount is set at $12.18 million, and interested parties must meet preliminary participant requirements before submitting a non-binding bid by March 25.’
The Mountain Side Hotel, formerly part of Mountainside Lodge and sharing the building at 4417 Sundial Pl., is not part of the offering and is still operational and open for business.
Executive Hotels & Resorts also holds an exclusive lease over all common areas, amenities, and parking within the Mountainside building, maintaining full control of hotel operations in accordance with local bylaws.
Shell Vacations Hospitality
Phase One bidders who qualify will be invited to submit a binding bid by April 25. If there are multiple bids remaining in consideration, an auction will take place no later than May 7, with a target closing date scheduled for May 29.
“We are honoured to manage this sales process for BDO Canada Limited to secure the best buyer possible for this rare opportunity in one of the most incredible hospitality markets Canada has to offer,” added Bijan Lalji, senior associate of the Capital Markets Group at Avison Young, in a statement.
“We encourage investors to bring strong offers forward by March 25, 2025, if they’d like to be a part of this highly desirable tourism landscape in Whistler.”