Saskatoon Property Groups Acquire Waskesiu's Lost Creek Resort in National Park
In a significant development for Saskatchewan's tourism sector, two prominent Saskatoon-based property groups have completed the acquisition of Lost Creek Resort, a cherished cottage destination located within Prince Albert National Park. The purchase marks a new chapter for the resort, which has been a fixture in the Waskesiu community for decades.
New Ownership and Strategic Vision
The acquisition was finalized earlier this month by Globex Management Corp. and Remai Property Group Inc., both well-established entities in Saskatchewan's real estate and hospitality landscape. According to Lynn Flury, Director at Globex, the resort represents a valuable addition to their portfolio, describing it as "a very nestled into the forest type of resort" situated approximately a five-minute drive from the Waskesiu townsite.
Globex, a Saskatchewan-owned hospitality management company with a dedicated real estate division, had already been managing the resort prior to the purchase. Their partner, Remai Property Group Inc., is a family-owned real estate and management firm also based in Saskatoon. Flury emphasized that both partners recognized the growing potential of Waskesiu as a tourism destination, attracting visitors from across Saskatchewan and beyond.
Transition from Founding Vision to New Leadership
The sale concludes the tenure of Gord Bueckert, the former owner and visionary behind Lost Creek Resort, who had developed the nature-centred spot since its early days. Flury noted that Bueckert "was just ready to retire," prompting the transition to new ownership. This change reflects a broader trend in Waskesiu, where older business owners are increasingly seeking to pass their ventures to a new generation.
Chris Astle, President of the Waskesiu Chamber of Commerce, welcomed the sale, particularly after a slower-than-usual summer in the park due to wildfire threats. Astle, who owns local businesses including the town's movie theatre and candy store, highlighted the interdependence within the community, stating that increased overnight stays benefit all local shops and services.
Growth and Future Prospects
Since 2003, Lost Creek Resort has expanded significantly, growing from five to twenty cottages, as detailed on its website. The year-round destination offers a secluded forest experience, enhancing its appeal to nature enthusiasts and tourists seeking a retreat in the national park.
This acquisition follows Globex's previous involvement in the area, having managed and subsequently purchased the nearby Hawood Inn with partners in June 2024. Flury pointed out the synergies between owning multiple properties, suggesting opportunities for enhanced operations and guest experiences across their holdings.
The property had been on the market for about a year before Globex and its partners made an offer. Astle observed an uptick in similar business transitions in Waskesiu, noting that "there comes a time in every community ... where the old owners are ready to retire, ready to do something new." This trend has garnered national attention, underscoring the importance of succession planning in sustaining local economies.
As a member of the Waskesiu Chamber of Commerce, Globex's commitment to the resort is seen as a positive step forward for the community. Astle expressed optimism about the future, stating, "It's a small business community, so you want to see these businesses that have been grown and that have been taken great care of and built over the years – You want to see them move forward and you want to see them continue."
With the acquisition now complete, Lost Creek Resort is poised to build on its legacy under new management, contributing to the ongoing growth of tourism in Prince Albert National Park and the surrounding Waskesiu area.
