Great Gulf Group is making resorts and leisure a bigger part of its business, and the Toronto-headquartered developer has hired hospitality executive Jay Wong to lead the division in the newly created role of president.
The move signals a major commitment to resort residential development, with a pipeline the company says totals between 5,000 and 6,000 units.
Wong comes to Great Gulf from Exclusive Resorts, a members-only luxury travel club where he was executive vice-president of operations and member experience. Before that, he formed the Americas portfolio management team at Four Seasons Hotels and Resorts and held leadership roles at Starwood Hotels & Resorts Worldwide, which Marriott International acquired in 2015.
"Great Gulf has been on my radar for a while because it's a company that is so focused on innovation, thinking outside the box and thinking about doing things differently," Wong told RENX, describing resorts and leisure as the "next frontier" for the company.
"This opportunity bridges that world between traditional hospitality operations and real estate development. I think it was a perfect fit for me and it felt like a win-win because I felt like I can bring a whole new set of capabilities to Great Gulf," he added.
Ontario properties anchor the portfolio
Within Ontario, Great Gulf owns Taboo Muskoka on Lake Muskoka near Gravenhurst. The resort includes a range of accommodations, an 18-hole golf course, two restaurants, a bar, meeting and event facilities, nature trails, and a recreation and adventure centre. The company acquired the property in 1984.
Wong said the company is looking at ways to continue the property's evolution. Great Gulf also owns roughly 1,200 acres of land surrounding the resort and is master-planning that parcel, though no announcements have been made.
The company holds another 1,000 acres across two resort development properties near Collingwood, where early master-planning is underway. "We have a lot of work to do," Wong said. "It's really about how you bring these to life."
Major ski village planned in Vermont
The division's largest new project is in the United States. Great Gulf closed a $43-million acquisition of a Vermont site from SP Land Co. and plans to build a 1,095-acre ski village and luxury resort community at the base of the 4,241-foot Killington Peak, featuring ski-in and ski-out residences.
According to RENX, the Town of Killington is building municipal infrastructure for the development, including a water system and improved roads, work that began in October and is expected to take two years.
The first residential phase would bring more than 200 low-rise condominium units, townhouses and single-family homes, with the site also permitted for more than 32,000 square feet of commercial space. Wong said the development will include a new ski lodge, an amphitheatre and a skating pond.
Longer term, a permit on file with the state allows for more than 2,100 residential units and 169,000 square feet of retail and commercial space.
Safdie Architects is the project's primary designer, with PWP Landscape Architecture handling landscape design.
Wong said the region has seen limited development despite a large northeastern U.S. population "looking for a domestic drive-to destination where they can bring their families and go skiing, but they also want an elegant experience."
