June 4, 2014 4:04 pm

Lake Okanagan Resort sold to buyer from China

Specialized Assets Group

KELOWNA – The Okanagan could see an influx of Chinese tourists now that a major lakefront resort has a new owner.

The Lake Okanagan Resort north of Kelowna has been sold to a buyer from mainland China.

The asking price was $10.1 million but the sale price is not being disclosed.

The listing realtor says the new owner is connected to a large tourism organization in China and he understands the resort will cater to members of that club as well as the general public.

A resort spokesperson says there are plans for major improvements to the 250 acre facility over the next three years, turning it from a three star to five star operation.

Those improvements could include upgrades to the narrow and winding Westside Road.

The resort currently boasts 5000 feet of lakeshore and a marina, 217 accommodation units and a small golf course.

The previous owner was Calgary based Northwynd Resort Properties.

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