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With autumn’s leaves mere weeks from turning, Bear Valley Mountain Resort’s new owners have already started preparing for the upcoming ski season.
Pending the final approval of the U.S. Forest Service, which is anticipated to go through without issue, Skyline International Development Inc. is the new owner of the mountain resort.
“A lot of work has gone into it,” said Michael Sneyd, CEO of Skyline. “Our focus right now is to improve the mountain experience, the guest experience and to make sure that the Bear Valley brand reaches the heights it enjoyed in the past.”
The Toronto-based company’s binding purchase and sale agreement includes only the on-mountain assets of the resort. But with the purchase of the ski area, Skyline has an option to purchase development land in Bear Valley Village over the next three years.
Though Sneyd said that is Skyline’s plan, he added the company will focus this year on the ski area in particular. Skyline is working with current onsite management and the newly appointed asset managers, Northern California ski industry duo Chris Ryman and Betsy Cole to develop a list of priorities. Sneyd said at the top are improving snowmaking abilities and enhancing the midmountain lodge.
“There are several operation items we’d like to see addressed right away: flow issues, flow of rentals, flow through the kids’ camp facilities and the facilities with respect to bar and restaurant – generally, that the patrons see there’s a real uptick this coming season.”
Sneyd said the company is delighted to add Bear Valley to its growing portfolio of hotels and resorts.
“Given Bear Valley’s spectacular beauty, excellent terrain and potential for improvement, we believe it is a great fit,” he said.
Founded in 1998 by entrepreneur Gil Blutrich, Skyline has expanded quickly over the past five years, growing its asset base from $26 million to $311 million with the acquisition of hotel and resort properties in Canada. Purchase price for the Bear Valley ski area is still confidential, Sneyd said. Bear Valley is the company’s second U.S. acquisition, following the 2011 purchase of the Hyatt Regency and Cleveland Arcade.
And although the company is new to the West Coast, Blutrich said Bear Valley is similar to one of the company’s Canadian ski resorts.
“Both appeal to families and local groups while benefiting from their close proximity to large urban centers,” he said. “In Horseshoe’s case, the 8.8 million people who live in the Greater Golden Horseshoe and for Bear Valley, nearly 5 million who live in the Bay Area. Bear Valley is a perfect, natural and quiet alternative to Lake Tahoe.”
Sneyd said the Bear Valley Mountain Cooperative, which also sought to purchase the mountain this year, will remain involved in the ownership transition.
“Skyline was impressed by the passion, dedication and collaboration demonstrated by the Bear Valley Mountain Coop-erative and will work with their leadership in the coming weeks as they develop detailed plans for Bear Valley,” he said.
The deal is subject to the U.S. Forest Service issuing a permit to operate the resort, which is expected in 30 to 60 days.
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