Developers cash in on Canada’s hydrotherapy obsession

A few months after real estate developer Sky McLean acquired an old Holiday Inn, she had an ‘aha’ moment that would transform her business into a holistic wellness haven – a trend making waves in Canada’s commercial real estate sector.

Initially, Ms. McLean planned to redevelop the picturesque Canmore, Alta., property into a hotel called MTN House By Basecamp and to use the location’s extra 1.5 acres to build more accommodations. However, she saw an untapped opportunity that would allow her company to grow and appeal to a niche market. “We were standing out back, and the views were so beautiful,” she recalls. “I thought to myself, why wouldn’t we build a Nordic spa?”