SAM Magazine—Bear Valley, Calif., Aug. 21, 2014—Skyline International Development, Inc., is set to acquire Bear Valley Mountain Resort. The agreement comes after several weeks of discussion with the current ownership as well as local community leaders who had formed the Bear Valley Mountain Cooperative, which was also in the process of purchasing the resort. Closing is subject to U.S. Forest Service issuance of a permit to operate the resort, expected in 30 to 60 days.

SAM Magazine—Bear Valley, Calif., Aug. 21, 2014—Skyline International Development, Inc., is set to acquire Bear Valley Mountain Resort. The agreement comes after several weeks of discussion with the current ownership as well as local community leaders who had formed the Bear Valley Mountain Cooperative, which was also in the process of purchasing the resort. Closing is subject to U.S. Forest Service issuance of a permit to operate the resort, expected in 30 to 60 days.

With the purchase of the ski area, Skyline has an option to purchase development land in Bear Valley Village for 350 residential units and add a 40,000 sq. ft. village center, which includes a 53-room Lodge and a 17,000 sq. ft. commercial complex.

“We are delighted to add Bear Valley to our growing portfolio of hotels and resorts,” said Skyline CEO Michael Sneyd. Skyline owns, operates, and develops hospitality resorts and destination communities. Founded in 1998, it has expanded rapidly over the past five years, growing its asset base from $26 million to $311 million with the acquisition of hotel and resort properties in Ontario and the Northern Tier. Bear Valley is the company's second U.S. acquisition.

In 2013, Skyline was named among Deloitte's "Best Managed Companies" in Canada, and Skyline Hotels & Resorts was awarded "Regional Hotelier of the Yea"' by Toronto-based Kostuch Media.

“Bear Valley is a family and community-based resort with many similarities to our Canadian Horseshoe Resort near Barrie, Ontario,” said chairman and president Gil Blutrich. “Both appeal to families and local groups while benefiting from their close proximity to large urban centers.” He added, “Bear Valley is a perfect, natural and quiet alternative to Lake Tahoe” for the nearly 5 million people in the Bay Area.

“When the resort came up for sale in 2013, the community formed a cooperative effort that raised funds from the community for the purchase of the mountain. Skyline was impressed by the passion, dedication and collaboration demonstrated by the Bear Valley Mountain Cooperative, and will work with their leadership in the coming weeks as they develop detailed plans for Bear Valley,” added Sneyd.

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