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The Aerie - under new ownership


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#1 Bingo

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Posted 03 December 2009 - 07:42 AM

The resort is now under the care of court appointed receiver Glover-Drennan, and is up for sale. It is likely worth much more than $13 million.

It's an indication of the trouble the industry is facing, said hospitality industry consultant Frank Bourcree.

Discounted hotel rates has been the biggest blow to profitability.

#2 yodsaker

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Posted 03 December 2009 - 10:25 AM

The resort is now under the care of court appointed receiver Glover-Drennan, and is up for sale. It is likely worth much more than $13 million.

It's an indication of the trouble the industry is facing, said hospitality industry consultant Frank Bourcree.

Discounted hotel rates has been the biggest blow to profitability.


I'd say it's worth what someone will pay. Sign of the times. High end places like that need traffic year-round beyond tourists.

#3 martini

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Posted 03 December 2009 - 02:43 PM

Aerie Resort falls victim to downturn in tourist industry
Receiver now caring for closed landmark atop the Malahat Drive

By Andrew A. Duffy, Times Colonist December 2, 2009
http://www.timescolo...1777/story.html
The Aerie Resort, a regular on the Condé Nast and Travel and Leisure magazines’ best-of lists, has closed its doors, citing the downturn in the hospitality industry.

The resort, which sits atop the Malahat Drive, is owned by Maria Schuster. It normally closes for part of the winter season but is now under the care of court-appointed receiver Glover-Drennan.

“The sole reason [we’re here] is to keep it in place, get it winterized and keep it through to the spring — and probably have it sold by then,” said Ken Glover, who is not charged with finding a buyer. Glover’s firm has been compiling a list of creditors and notifying them of the situation.[...]




Aerie owner in the middle of 'roller-coaster ride'
Recession forces luxury resort into receivership
By Andrew A. Duffy, Times Colonist December 3, 2009
http://www.timescolo...7524/story.html
There has been a steady stream of suitors at Maria Schuster's door over the years, but she could never bring herself to deal with any of them.

Now, however, the owner of the luxury Aerie Resort has little choice but to succumb to a marriage of convenience as the doors of her 19-year-old resort are closed and the running of the site is in the hands of a receiver.[...]

#4 ptolomeus

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Posted 03 December 2009 - 06:47 PM

What a pity, it's such a nice resort :(

#5 dmvictoria

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Posted 11 March 2010 - 12:57 PM

Though the Aerie is a lovely spot, I always thought the location was bad for business. I have heard that many big name celebrities have stayed there and have sung of its splendor, but getting to the Aerie is a bit of a slog up the Malahat especially if you are coming from the airport or downtown. And when you get there what is there to do? Sit around the pool, go for a massage, read a book, get drunk, have diner or commiserate with your significant other? Its pretty minimal as far as a destination goes.

Now, if it had a nice sandy beach, a ski slope behind it or even horseback riding trails, that would probably give it more staying power. Or, at the very least, a higher resale value:rolleyes:

#6 victorian fan

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Posted 11 March 2010 - 01:16 PM

^

Sit around the pool, go for a massage, read a book, get drunk, have diner or commiserate with your significant other?


Sounds good to me. ;)

#7 G-Man

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Posted 11 March 2010 - 01:35 PM

Sounds ideal. There is also some hiking nearby and Spectacle lake too.

#8 dmvictoria

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Posted 12 March 2010 - 02:27 PM

^


Sounds good to me. ;)


:DWell, shave my testicles, bleach my anus:o and tell my rickshaw driver:mad: me and my significant other are headed for the Aerie for a night of commiseration.:D

No, but seriously, all the services and more that the Aerie was offering is available at any hotel in the inner harbour and usually for a smaller price too. I can't see anything really unique the Aerie was offering that would set it apart from other establishments, well, maybe that massage therapist that would have sex with you, but he was fired years ago. No more happy endings at the Aerie.

I only heard that sex scandal as a rumor, has anyone else heard about it?

#9 VicHockeyFan

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Posted 12 March 2010 - 02:42 PM

:DWell, shave my testicles, bleach my anus:o and tell my rickshaw driver:mad: me and my significant other are headed for the Aerie for a night of commiseration.:D

No, but seriously, all the services and more that the Aerie was offering is available at any hotel in the inner harbour and usually for a smaller price too. I can't see anything really unique the Aerie was offering that would set it apart from other establishments, well, maybe that massage therapist that would have sex with you, but he was fired years ago. No more happy endings at the Aerie.

I only heard that sex scandal as a rumor, has anyone else heard about it?


I think most massage therapists have sex with people/clients. So do people in any other profession. I've slept with lots of waitresses. Or do you mean for extra cash?

#10 dmvictoria

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Posted 12 March 2010 - 03:35 PM

I think most massage therapists have sex with people/clients. So do people in any other profession. I've slept with lots of waitresses. Or do you mean for extra cash?


I completely agree, I have dated a few massage therapists as well, but I never met them initially in a professional environment. The short answers to the bigger question that people indeed do have sex, regardless of their profession, with and without their clients/customers.

Regarding the Aerie incident, to the best of my 1st or 2nd hand knowledge the massage therapist was not asking for money for sex and apparently has been "doing it" for a couple of years. In 1998ish there was one person that did not appreciate his advances and there was a lawsuit against the Aerie for which they settled and fired the "sleazy" employee.

#11 Sparky

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Posted 12 March 2010 - 09:19 PM

I think most massage therapists have sex with people/clients.... I've slept with lots of waitresses...


So, just out of curiosity...what is your favorite restaurant? ;)

#12 North Shore

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Posted 12 March 2010 - 09:23 PM

I've slept with lots of waitresses.


All at the same time?
Say, what's that mountain goat doing up here in the mist?

#13 VicHockeyFan

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Posted 20 April 2010 - 09:34 AM

CFAX reports that the Aerie will not re-open for summer 2010, and is for sale at $6.9M.

#14 martini

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Posted 23 November 2010 - 09:32 AM

Aerie attracting interest after $1-million price cut
Times Colonist November 23, 2010
http://www.timescolo...l#ixzz167vK6ubb

The current asking price of $5.9 million is down from the $6.9 million set when the luxury hotel went on the market in April after going into receivership.

"It was clear we were not getting traction at a number close to the original asking price. So we obtained instructions from the receiver to drop it accordingly," Holt said.



#15 yodsaker

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Posted 23 November 2010 - 10:09 AM

A far cry from $13 million.

#16 Bingo

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Posted 23 November 2010 - 12:48 PM

CFAX reports that the Aerie will not re-open for summer 2010, and is for sale at $6.9M.


I suppose that once the city runs out of Travellers Inns to buy up...

#17 VicHockeyFan

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Posted 23 November 2010 - 02:21 PM

So, just out of curiosity...what is your favorite restaurant? ;)


I had a good run at Pizza Hut circa 1991.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#18 martini

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Posted 25 February 2011 - 07:08 PM

Another price reduction for insolvent resort
Feb 25, 2011
http://www.cfax1070....hp?newsId=17488
The asking price for the financially insolvent Aerie Resort has been reduced again, to 4 3/4 million dollars.[...]

#19 VicHockeyFan

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Posted 13 July 2011 - 12:02 PM

No takers: price for luxury Aerie Resort dropped again

By Andrew A. Duffy, Postmedia News July 8, 2011

The receiver in charge of the insolvent Aerie Resort has dropped the asking price for the property to $3.95 million.


http://www.canada.co...0131/story.html

Marketing brochure: http://www.dtzbarnic...ng Brochure.pdf




There is word today there is a buyer. Accepted offer and the buyer is local.

85 acres for under $4M does not sound all too bad if there is development potential for some of that land.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#20 VicHockeyFan

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Posted 29 September 2011 - 12:00 PM

Court approved the sale today.

Harvey Simons? I think he was involved somehow in Bear Mountain.
<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

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