Bear Valley Investment Deal Collapses
SAM Magazine—Bear Valley, Calif., Sept. 5, 2013—Bear Valley Resorts, which has been seeking a buyer to put Bear Valley’s recently approved development plan into effect, has said that a deal to sell the resort has collapsed. Managing partner Greg Finch told Stockton, Calif.-based The Record that the complexity of the deal, particularly involving real estate in the town, and the fast-approaching winter season allowed too little time for a buyer to prepare for the season.
As a result, current management is preparing to operate the resort for this season. "We are preparing for the Bear Valley Resort Job Fair next month and plan to hire over 200 additional staff members for the 2013-14 season," said GM Jim Gentling.
A year ago, the area’s future was less clear. Many employees were laid off after the low-snow 2011-12 season, and the resort did not commit to opening for the 2012-13 season until October 2012.
However, in December 2012, the resort’s development plan was approved. That includes a lift to connect the village to the ski area, new mountaintop dining, trail improvements, 300 condominiums, and a new lodge. The owners have been seeking a buyer ever since, and that effort will continue.