On June 8, 2023, Vancouver-based Aldesta Hotel Group expanded its portfolio with the acquisition of the 1,229-acre Fairmont Hot Springs Resort in British Columbia's Columbia Valley. The deal, facilitated by CFO Capital, included Canada’s largest natural mineral hot springs, extensive lodging, dining, golfing, skiing, and recreational facilities. Although the exact transaction value was undisclosed, the property was previously valued at approximately $50 million.

Colliers' Unique Properties and Hotels divisions marketed the property, which had been on and off the market due to shareholder divergence. Despite multiple interests and a lengthy due diligence period, Aldesta successfully closed the deal, aligning with its strategy to offer exceptional guest experiences in spectacular destinations.

The resort comprises 151 guest rooms, cabins, cottages, extensive development land, meeting space, seven dining outlets, three golf courses, a ski hill, RV park, spa, and various outdoor activities. Aldesta plans to invest in the property to maintain its status as a world-class destination, ensuring a seamless transition and continuous guest satisfaction.

Legal advisors for the transaction included Osler, Hoskin & Harcourt LLP for Aldesta Hotels and Resorts, while Farris LLP advised the vendors. The acquisition is expected to be managed as business-as-usual initially, allowing Aldesta to understand operations before implementing any significant changes.