Banff’s Rimrock Resort sold to Oxford Properties

i By June 20, 2023 No Comments

Oxford Properties Group has acquired The Rimrock Resort Hotel (The Rimrock)  in Banff, Alberta, alongside an existing institutional capital partner.

Accor has signed with Oxford to operate The Rimrock, effective immediately. The property will undergo a comprehensive top to bottom renovation to transform the hotel, as part of a significant investment by Oxford and its capital partner; the hotel will continue to operate throughout the renovation period.

The investment will enhance the luxury experience available to guests in Banff National Park, improve the environmental sustainability of the hotel, and amplify The Rimrock’s distinctive location in the famed Canadian Rockies.

Located on Sulphur Mountain in Banff National Park, The Rimrock Resort Hotel is four kilometers south of the picturesque town of Banff. With a history dating back to 1884, the property is considered one of the premier hotels in the world-renowned destination. Since its opening, The Rimrock has transformed from a two-story, six-room hotel to a property with more than 330 guestrooms, including 24 suites, many featuring panoramic views of the Bow Valley, as well as 18,000 square feet of event space.

The resort also includes a range of amenities such as a 9,000 square foot spa, an indoor pool, four restaurants and bars, including the Five Diamond designated restaurant ‘Eden’, a fitness centre, and a seasonal ice-skating rink.

“We are very excited to acquire this extremely unique resort within the vibrant, high barrier to entry Banff market. Our acquisition of The Rimrock speaks to our long-term conviction in Canada’s luxury resort hotel market, where we have meaningful scale,” said Tyler MacDonald, head of Hotels and Alternatives at Oxford Properties. “It also grows our important relationship with Accor, offering world class resort experiences in renowned destinations across Western Canada.”

“With The Rimrock Resort Hotel, we officially mark our 30th property in Canada, further extending our offerings for Accor guests, from the landmark properties of Fairmont Hotels & Resorts, a globally celebrated luxury brand with roots that run deep from coast to coast, to the unique stories told by the MGallery Hotel Collection, to our family- and business-friendly Novotel properties,” said Mark Purcell, senior vice-president, Development, North & Central America. “We are thrilled to continue the Group’s growth in North America, and further our longstanding relationship with Oxford with this exceptional addition to our Accor portfolio. Already a tremendous property, we can’t wait to unveil what is to come.”

Planning and design for the renovation project will begin immediately, with work anticipated to begin in 2024.