A Canadian ski resort developer has entered into an agreement to buy Bear Valley Mountain Resort.
The agreement, announced Wednesday, comes after several weeks of discussions between Toronto-based developer Skyline International Development Inc., Bear Valley’s current owners and representatives with the Bear Valley Mountain Cooperative — a group of homeowners and others interested in purchasing the resort.
Closing of the sale is subject to the U.S. Forest Service issuing a permit to operate the resort, which is expected in 30 to 60 days.
“We are delighted to add Bear Valley to our growing portfolio of hotels and resorts,” said Skyline CEO Michael Sneyd. “Given Bear Valley’s spectacular beauty, excellent terrain and potential for improvement, we believe it is a great fit.”
Skyline owns various hotels and resort communities. Bear Valley is the company’s second U.S. acquisition after the historic Cleveland Arcade complex.
Bear Valley — off upper Highway 4 in Alpine County — has been for sale since January 2013. The 1,700-acre ski area includes nine chair lifts and a 40,000 square-foot lodge.