Skyline International Development, Inc. has completed its purchase Bear Valley Mountain
Skyline International Development, Inc. (SKLN.TA), Canada’s leading owner, operator and developer of hospitality resorts and destination communities, has completed its purchase of Bear Valley Mountain Resort after receiving a permit to operate the resort from the US Forest Service. The 1,700-acre Bear Valley ski area includes: nine chair lifts, a 2,000-stall parking lot, and a 40,000 sq. ft. mountain base lodge.
“I strongly believe that we have acquired one of the most beautiful properties in Northern California and we cannot wait to bring the full experience here,” says Skyline CEO Michael Sneyd. “We are pleased with this addition to our ever-growing hotel and resorts portfolio. We look forward to providing an exemplary standard of hospitality service to Bear Valley.”
The purchase of Bear Valley also includes two approved master plans for the ski area and Village that include expanded ski lifts and a development plan to build 350 new units accompanied by a new Village core, which Skyline hopes to execute.
Skyline Bear Valley announces agreement with Bear Valley Mountain Cooperative
In what is considered to be a first in resort ownership, Skyline has entered into an agreement with the Bear Valley Mountain Cooperative (BVMC), a membership-driven organization formed when the resort first came up for sale in 2013. The BVMC raised funds by selling membership shares to individuals with the intent to purchase and operate the resort. As Skyline reviewed the opportunity, they were immediately impressed with the passion and commitment demonstrated by these dedicated members of the Bear Valley community. Skyline entered into negotiations with BVMC in the fall agreeing to extend benefits to members in a collaborative agreement that was finalized in December.
Through this partnership with Skyline, which was formalized upon completion of the purchase of Bear Valley, the BVMC will provide targeted membership funding for projects that accelerate improvements at the resort and enhance the experience as a year-round destination. “The Bear Valley Mountain Cooperative is an energized group of people committed to the success of Bear Valley,” said Benno Nager, GM of Bear Valley. “We are very fortunate to have their involvement in helping to shape the future of this magical destination and couldn’t be more excited for what’s in store.”
“For BVMC, this agreement is a perfect outcome. Through our combined efforts and resources, the resort and community will see rapid improvements while enjoying the benefits and support of an exceptional hospitality company,” says Paul Petersen, Interim BVMC board member and local business owner. “This is a huge win for Bear Valley, the community, and Skyline. The combined investment and benefits along with community input will deliver on much-anticipated improvements.”
The BVMC will operate independently from Skyline Bear Valley and will continue to sell memberships that provide benefits at the resort and village. They can be reached at www.bvmcoop.org