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 The resort tourism industry is rife with challenges such as seasonality, high competition and fickle clientele. But with the help of BDC, companies such as Château Mont-Sainte-Anne are finding innovative ways to grow their businesses and be more competitive.
"This sector demands that you think quickly on your feet and always come up with new ideas. On the positive side, there's also a lot of potential to develop business with local and international markets," says Sébastien Roy, General Manager, Château-Mont-Sainte Anne. The four-star hotel and condo resort, owned and operated by Henri Roy and his son Sébastien, caters largely to the needs of ski and snowboard enthusiasts who can take advantage of the nearby mountain. As well, Château Mont-Sainte Anne is 20 minutes from Le Massif mountain, which has also earned an international reputation for winter sports and spectacular views. The Château now offers fine dining and luxurious amenities such as a 4-season spa, two 18-hole golf courses and spectacular cruises on the St. Lawrence River. Only 30 minutes from Quebec city and close to Charlevoix, the Château provides the largest resort meeting facilities in Eastern Canada.
Going for 4 seasons
"We knew that we couldn't just rely on our winter sports clientele since that represents only a few months out of the year," he emphasizes. Finding a way to build steady, year-round business was a priority for the new management team, that bought the company 2 years ago. "We needed to drive more business and take advantage of the fact that we're strategically located near larger urban centers such as Quebec City," says Roy. The owners of the hotel worked out a 5-year business plan that includes expanding meeting facilities with a fully equipped conference centre which will run 12 months a year. "This enables us to keep a reliable flow of business annually and develop an important corporate market. Of course, those same corporate customers can become tourists too," he adds.
Financing customized for tourism businesses
The owners went to BDC to finance the project and other hotel renovations, to help them reinforce their image as a high-end, luxury resort and conference center. BDC offers clients financing for land and business acquisitions that can fund a project from start to finish. The Bank also caters to the tourism industry with seasonal loan payment plans and flexible terms.
"BDC has always been supportive even when we've had seasonal challenges," says Roy. He believes the Château team earned the confidence of BDC with a clear, well-structured business plan that had achievable objectives. "We didn't try to do everything at once. The people at BDC recognized that we were well-organized and committed to growth. Because of the magnitude of the project, we decided to take it one step at a time in order to meet our objectives," he stresses. "BDC was also very flexible with us when we needed to adapt our business plan along the way. They understand what it is to be an entrepreneur today. You have to be able to manage change well," he adds.
For Marc Bouchard, Account Manager, BDC Financing, the client also showed that they were willing to invest in the company, which was an important financial commitment. "The new management team is very strong and creative and is investing significantly in marketing, which is crucial in this competitive environment. We continue to be very impressed by their drive and entrepreneurial spirit," he concludes.
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