The Canadian company buying Bear Valley Mountain Resort aims to improve various facets of the ski area - everything from snowmaking operations to the quality of food served.
Toronto-based Skyline International Development Inc., is purchasing the 1,700-acre ski area, which includes nine chair lifts, a 2,000-space parking lot and a 40,000 square-foot lodge.
Closing of the sale is subject to the U.S. Forest Service issuing a permit to operate the resort, which is expected in October.
"We're treating it as though we're running it right now," Skyline CEO Michael Sneyd said Wednesday during a phone interview from Toronto.
Skyline also has the option to purchase development land in Bear Valley Village over the next three years. Plans for the village include a potential 350-unit residential complex and a 40,000 square-foot village center.
During the past five years, Skyline has grown its asset base from $26 million to $311 million with the acquisition of hotel and resort properties in Canada. As for the U.S., the company also owns an historic hotel and shopping complex in Cleveland.
Skyline's Chairman and President Gil Blutrich visited Bear Valley in late spring or early summer, said Sneyd, who first visited Bear earlier this month for a town hall meeting.
For the complete story, see the Aug. 28, 2014, edition of The Union Democrat.