Calgary's iconic Ranchman's sold to new ownership group

A new ownership group has purchased Ranchman's, the iconic Calgary honky tonk

A Calgary landmark looks like it just got a new lease on life.

Ranchman's, the iconic Macleod Trail honky-tonk, has found a new group of owners, who are said to already have significant property holdings in Calgary.

The ownership group has asked to remain anonymous for now, but the next goal is to find a suitable tenant who is interested in rebooting the nightclub and returning Ranchman's to its former glory.

Ranchman's was shut down at the start of the pandemic and put up for lease, until it was seized by the bank, ending nearly 50 years as the city's go-to hotspot for rodeo riders and fans alike.

"It was a great fit for them, a great fit for us, and now the key is, we just have to find a tenant who wants to go back in and open it up," said realtor Rob Campbell of Remax Central, in an interview with CTV News.

Campbell conceded that carrying on the honky-tonk ways of Ranchman's will be up to whoever takes it over.

"It's a business deal," he said, "so if someone wants to come in and do something completely different, that's totally up to them.

"But when you look at the building having 47 years of history, I think you'd be crazy to try to do something different in it.

"We don't have a real country bar in town anymore," he said, continuing. "So it just makes perfect sense to try to utilize that history. It might need a little facelift inside, but if you can find a business model that pays homage to all that history, I think it gives you a big leg up when you reopen after the pandemic."