How Getting Laid Off Pushed Me to Open a Mountain Resort
Reeling from a series of jobs in real estate development, Sky McLean decided to reinvent her career on her own terms. With little more than an idea for a boutique mountain property that would straddle the line between hotel and vacation rental, she leveraged her tenacity and development expertise in equal measure to build Basecamp Resorts from the ground up. Now, as its founder and CEO, she runs a thriving business that reflects what real estate development can look like when it’s guided by a values-driven approach.
Growing up in Richmond Hill, Ont. I didn’t have a clear vision of what I wanted to do, but I did know two things: I like to work hard, and I don’t like working on someone else’s schedule. In high school, I took a bunch of independent studies courses where I got to work directly with teachers on projects. Essentially, I could learn on my own terms. That’s when I realized I was a bit of a maverick—that is, I’m an independent thinker and I don’t like doing things on other people’s terms. That entrepreneurial spirit would shape the course of my life.
After completing my business degree at York University’s Schulich School of Business, I took a job at Cadbury, where I had the freedom to drive around rural Alberta and Calgary selling chocolate. But I knew that chocolate wasn’t my true passion. That’s when I decided to go back to Schulich to get an MBA in real estate development, drawn to the idea of creating something tangible and lasting.
Moving back to Calgary was a game-changer for me; I loved being close to the mountains. I landed a job with a real estate developer there, but I started thinking the corporate scene might not be for me. After quitting—and a short stint leading bike tours in France to shake off the experience—I got another job in Calgary with a developer.
This job had more responsibility, which seemed like progress—until I was let go about a month in. That’s when the idea for Basecamp Resorts was born. I was going to find my way to excel in real estate on my own terms.
At that point in 2016, I had three mortgages: A house I lived in, and two Airbnb properties I had leveraged myself to buy. I thought about getting more Airbnbs, but then I had another idea. I told my now-husband Tim, who’s a carpenter, that I wanted to build a hotel that would have the same at-home comforts of an Airbnb—like a kitchen and multiple bathrooms—but it would also have the amenities of a good hotel, like a full-service front desk, rooftop hot tubs, premium towels and linens and housecleaning services. Plus, it would be near the great outdoors. Essentially, I built what I thought was missing—something between a vacation rental and a hotel.
Together, we decided to dive headfirst into the world of hotel development. That’s how I am with new ideas—I just do it. With no formal business plan and only a vision of creating a “home away from home” experience, we set out to raise $2 million in equity and secure a $5.5 million loan. It was a constant hustle, calling everyone I knew and convincing them to invest in our dream.
The first iteration of Basecamp Resorts was located in Canmore, Alb., and building it was no picnic. We were literally building as we were raising money—Tim was out there in the coldest November ever running heating lines while I called everyone I knew. It wasn’t until the last minute that a private lender came through with the loan, since the banks wouldn’t touch it. Then, we had a contractor who forgot to order furnaces—three weeks before guests were supposed to show up. To fix this, I got on a plane to the supplier and wouldn’t leave until they agreed to get the furnaces to us in time. Eventually, construction was finished and we opened our doors in August 2017.
We followed up by renovating two more properties and opening them under the Basecamp brand in May of 2018. Later that year, we opened our first condo development, called Residences at Basecamp. When the pandemic hit, we went from a thriving business to temporarily laying off 45 employees across all our hotels. We made it through without making any cash calls to investors because our management staff took voluntary reductions in pay and helped complete housekeeping duties. Meanwhile, we renegotiated payment terms for our debt and used all available government assistance programs.
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Today, we have a total of 14 properties, mostly in Canmore. It’s had a major impact on the community, creating more than 100 full-time positions. We help support numerous local organizations, from the Canmore and Area Health Care Foundation and the Rotary Club of Canmore to the Bow Valley Food Bank and Canmore Eagles Hockey Club. We even have subsidized staff housing.
Through it all, whether it’s tracking down furnaces for our first hotel or navigating the complexities of financing, I’ve never been one to back down from a challenge—even though I like doing things my own way. At the same time, I built this business on the basis of treating people with respect. One of my proudest moments was when we were able to bring on our architect and engineer—they believed in our vision, even though we couldn’t pay them upfront. Today, they’re not only key members of our team, but also some of our biggest investors. That loyalty, which goes both ways, has been the foundation of our success. That, and the serious love of a mountain view.