The Government of Quebec today announced a CA$50 million investment in Mont-Sainte-Anne, the crown jewel of Resorts of the Canadian Rockies eastern operations located near Quebec City. Under the deal, RCR will be required to invest an equal amount of private capital over the next five years. Half the government’s contribution will come as a forgiveable loan while the other half must be paid back with future revenue.

Mont-Sainte-Anne operates on provincial land under a 99 year lease inked in 1994. Since that time, Alberta-based RCR has installed just one new lift, the Panorama Express in 2013. The mountain suffered several lift incidents in recent years and many called on the province to terminate its lease and partner with a different operator. Groupe Le Massif and Compagnie des Montagnes de Ski du Quebec both expressed interest but the province concluded the current lease with Resorts of the Canadian Rockies should continue. One condition of the loan to RCR is periodic, independent safety audits.

A large chunk of the infusion is earmarked for new lifts characterized as “ultra modern.” Newspaper La Presse reported that the mountain’s 1989 Doppelmayr gondola, 1987 Doppelmayr detachable quad L’Express du Nord and 1986 Samson quad La Tortue will all be replaced. No specific timelines or lift types were shared but anything new will be a welcome upgrade. The main lodges and snowmaking system will be modernized and a mountain coaster installed. “Our government has chosen the best option to ensure the sustainability of the mountain, ensure safety for users and make this jewel of the Côte-de-Beaupré region once again,” said Kariane Bourassa, Member of Parliament for Charlevoix-Côte-de-Beaupré. “The $50 million invested by the Government of Quebec comes with clear conditions that RCR must respect. These investments will help restore the reputation of the resort, with new ski lifts and modernized infrastructure that will improve the customer experience while reducing energy consumption.”