TIABC Voice of Tourism Newsletter – June 27, 2025

CEO MESSAGE
I’ve been told multiple times by family, friends and colleagues that I seldom display emotion other than when I laugh. In other words, I don’t get too high or too low about anything no matter the situation or experience.

Admittedly that character trait is largely true although there have been many times where I’ve shed a few tears or become angry…albeit when no one was around to witness the breakdown of my stoic Germanic veneer.

Case in point…I did get rather emotional while reading the many texts and emails expressing well wishes and warm sentiments from tourism colleagues around the province after my surgery a month ago. I am truly touched and deeply appreciative to everyone who reached out during my recovery. Now to other stuff that is on my plate.

A couple of years ago I spoke with a senior tourism business owner who was in a care home and no longer healthy enough to manage the day-to-day responsibilities of his resort. And while he had no choice but to entrust the operation of his valuable asset to loyal employees, his biggest concern was that he couldn’t sell the business prior to his forced retirement.

I’ve heard many similar stories over the years that suggest a generational transition for tourism businesses is underway and while it presents opportunities for renewal and growth, it also reveals a few cracks according to my friends at Firecircle. CEO Deneen Allen tells me that in her work with hundreds of entrepreneurs across Canada, she and her team have observed a number of trends over the last few years:

The aging out of current owner-operators of rural and remote tourism assets with no particular exit strategy and no succession plan
The purchasing of tourism assets by inexperienced entrepreneurs from all cultures
The purchasing of existing tourism assets by new Canadians as a path to establish residency
The purchasing of tourism assets by real estate developers as a future land play for current cash flow but no engagement in overall positive destination development.

The challenge is not in these trends themselves, but that the majority of these new owners lack foundational hospitality and tourism knowledge, in addition to tourism asset management skills. Consequently, we’re increasingly seeing examples of eroding service standards, unsatisfactory visitor experiences, deteriorating asset infrastructure, and other effects on BC’s visitor economy.

So what’s the solution? Frankly I don’t have any concrete recommendations yet although I’ve tossed a few ideas around with Deneen and other respected colleagues. For example, could there be a business-matching program that brings together retiring operators with potential investors that not only have the money, but also have the experience and skills to run a tourism asset like a resort or attraction? Or perhaps it’s as simple as leveraging the tourism entrepreneurship micro-training program offered by Firecircle to many of its clients to help educate inexperienced asset purchasers and operators on how the BC tourism eco-system works, not to mention basic skills like finance, design, operations, marketing and other core competencies.

Without question, there will be other suggestions when TIABC hosts a roundtable discussion on business succession and investment with various sectors, operators and government representatives in mid-July. To that end, if you have ideas or insights, please reach out and let me know whether you’d like to attend the session or provide data and/or anecdotal information that can help inform our discussion. I look forward to hearing from you.

This week I ventured out to attend an in-person meeting with professional colleagues and was greeted with warm hugs. I wore sunglasses the entire time so no one would see my watery eyes (kidding). Fortunately I’m on a good healing path and while not back to 100% yet, expect to be before the end of the summer. Again, thank you very much for the kindness and support offered to me over the last few weeks. Happy Canada Day!

Walt Judas

CEO, TIABC