Short term rental trends disrupt recreational property market

Scott Henderson Client Releases, Spring Creek

White Spruce Lodge now sold out as Spring Creek, Canmore upgrades its Vacations Rentals

CANMORE, AB – Spring Creek announced today that White Spruce Lodge, its luxurious mountain lodge with a Tourist Home designation allowing for short term vacation rentals is now sold out. The Jack Pine Lodge, which broke ground in March 209, is now its only lodge with new homes for sale.

According to the 2019 Recreational Property Trends National Survey, conducted by Ledger for ReMax and released in July 2019, there has been a 14% increase in Millennials who are in the market to purchase recreational property. That report says that while Boomers continue to be the driving force in 2019, the increase in buying intentions alludes to a new trend in recreational buyer demographics.

Compared to Alberta’s residential market, the real estate market for mountain towns like Canmore is solid and the increase in Millennials looking to buy is influencing these markets. Increased opportunities for revenue with short term rentals and the rise of industry disruptors like AirBnB and VRBO are creating new trends in the recreational property market.

“I can confirm that Canmore is also seeing a higher interest in recreational property from Millennials similar to that of the National survey,” says Ross Jansen, director of sales, Spring Creek Real Estate, who tracks sales statistic for Canmore. “It is not as noticeable in the luxury market but the increased interest from Millennials has influenced the popularity of home sharing services and vacation property rentals.”

The National survey, released July 2019, also stated:

  • While 40 per cent of Canadians are in the market for a recreational property, 56 per cent of Millennials are in the market for a recreational property.
  • Of the 30 per cent of Canadians who say they use or would use a recreational property as an investment opportunity, Millennials rank highest at 33 per cent, compared to Boomers at 28 per cent.

Spring Creek is currently selling homes in its new Jack Pine Lodge. Named after Jack Kernick, one of the original owners of the Spring Creek lands with Jack’s brother Don, the $33 million Jack Pine Lodge broke ground in March of this year and features some of the best views in Spring Creek.

Photo caption: Jack Pine Lodge, the only lodge at Spring Creek with new homes to purchase.
Photo credit: provided by the developer.

This project is approved as residential condominiums for personal use. Spring Creek is already planning its next vacation rental or tourist home designated project and will be offering presale opportunities in the fall. Visit www.springcreekrealestate.ca to register for project updates.

Jack Pine Lodge homes have a spa-inspired ensuite, rock fireplace, oversized gourmet kitchen with granite countertops, upgraded finishings and hardwood floors in all living spaces. Amenities include: garden hot tub, exercise room, underground heated parking and geothermal heating and cooling. One, two and three-bedroom home suites are available ranging in size from 751 to 1879 square-feet and in price from $479,000 to $1,149,000.

Of the 1200 homes in Spring Creek’s master planned community, 300 are approved for a Tourist Home Designation in a Residential Area and can be used as short-term rentals. Currently the Town of Canmore is issuing fines of $2500 for un-authorized vacation rentals.

White Spruce Lodge will be completed late 2019 and will increase the number of suites available for short term rentals at Spring Creek Vacations, the mountain community’s vacation rental service that recently launched new reservation software upgrades for its website: www.springcreekvacations.com/

Owners at White Spruce Lodge have the option to rent out their suites with Spring Creek Vacations whose onsite team manages guest arrivals, underground parking, housekeeping, maintenance and overall guest experience. Canmore is often sold out on big weekends and holidays and travelers will welcome the extra inventory available when White Spruce Lodge and its 49 suites are completed.

“Currently Spring Creek Vacations services our Rundle Cliffs Lodge with one, two and three bedroom suites available,” say Kayla Kernick, director, business development and branding, Spring Creek. “With White Spruce Lodge completing we hope to double our inventory.”

In keeping with the home share trends, Spring Creek Vacations includes the big names like AirBnB as an important part of the overall marketing mix used to promote properties in their vacation rental inventory.

Kernick continues, “With Spring Creek fast becoming Canmore’s premier neighbourhood, we think our owners will prefer the higher level of service so they aren’t getting phones calls at night when an AirBnB guest is late.”

Each vacation rental is beautifully appointed with the highest level of amenities, interior design and luxury furnishings. Surrounded by two mountain streams with tranquil streamside pathways and a short walk to the downtown core, Spring Creek is a unique neighbourhood in the very heart of downtown Canmore.

“We bought at White Spruce Lodge and will list the property with Spring Creek Vacations. They handle everything and are onsite.” says Carly Cameron, who bought the suite with her husband Eric. “Having Spring Creek manage our property was an easy decision as they built it.”


Photo caption: White Spruce Lodge home owners Carly Cameron (Smeenk) and husband, Eric Cameron, high above the Town of Canmore.
Photo credit: provided by Carly Cameron.

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To view Spring Creek’s media kit, click here
For more information, visit http://www.yourcanmore.com

Media Contacts:

Meghanne Uptigrove
dHz Media
403 880 5410
meghanne.uptigrove@dhzmedia.com

Scott Henderson
dHz Media
403 921 2001
scott.henderson@dhzmedia.com

About Spring Creek https://www.springcreekrealestate.ca/
Spring Creek is a mountain neighbourhood comprised of homes for locals and vacationers of all ages, located within walking distance of downtown Canmore in the Canadian Rockies. Surrounded by mountain views, vast expanses of unspoiled wilderness and clear, glacier-fed rivers and streams, opportunities for outdoor adventure include world-class skiing, golf and fishing, hiking, biking and mountaineering.