Welcome!

Microsoft Cloud Authors: Liz McMillan, David H Deans, Automic Blog, Pat Romanski, Janakiram MSV

News Feed Item

Skyline to acquire strategic retail and land development interest in Blue Mountain Village

$20 million acquisition will include option to expand iconic resort village

TORONTO, Dec. 27, 2012 /CNW/ - Skyline International Development Inc. will soon add another jewel to its resort property crown.

Skyline, Canada's leading owner, operator and developer of resorts and destination communities, has entered into a binding agreement of purchase and sale and will be investing $20 million to acquire both retail and undeveloped residential land interests in and adjacent to the renowned Blue Mountain Village at the base of Blue Mountain Resort which offers ski, golf and lodging.

Under the retail portion of the agreement, Skyline will acquire 50% of existing commercial retail space within the Blue Mountain Village from current owner Intrawest ULC. In addition, Skyline will manage the remaining 50% of the Village's retail space. Skyline will also acquire the land to build an additional 20,000 sq. ft. of retail space to expand the Village retail. Skyline's retail interest under agreement at Blue Mountain is currently generating $1.5 million of net operating income.

In the residential portion of the acquisition, Skyline will acquire all remaining developable land in and adjacent to the Village, planning to double the Village's current residential and condo-hotel footprint. Skyline intends to develop over 1,200 residential and condo-hotel units, townhouses and single-family homes in the years ahead.

"This agreement reinforces our vision to be the leader in the Canadian destination-community industry," said Skyline Chairman and President Gil Blutrich. "With this acquisition, Skyline will become the largest owner of resort and destination communities in Ontario. Skyline will own properties in the province's five fastest-growing hubs—Toronto, Collingwood, Midland, Huntsville and Barrie—which gives us over 7,000 future superior residential units and home sites and a strong strategic advantage for the foreseeable future. By adding Blue Mountain Village resort lands, it allows us to expand services for the members of our prestigious SkyLife Club with a new club lounge for our members in the centre of the Village with access to Blue Mountain's wealth of amenities, from skiing to adventure activities and golf, on a year-round basis."

Founded in 1998 by visionary entrepreneur Gil Blutrich, Skyline has expanded rapidly, growing its asset base from $20 million (in 2000) to close to $300 million today with the acquisition of premier resort properties in Southern Ontario. The company recently introduced its innovative SkyLife Club, Ontario's first year-round city and country club offering family-oriented recreational, leisure and social activities and benefits through the premier portfolio of Skyline Hotels & Resorts.

Skyline's unique vision and go-to-market strategy to date have focused on reinvigorating potentially high-income properties by renovating their existing hotels and residential units, then expanding their residential and retail footprint with an emphasis on turning those properties into lifestyle communities. The firm has achieved impressive results by introducing scalable systems and corporate efficiencies to these properties and restoring maximum profitability.

Blue Mountain Resort averages more than 700,000 skier visits per year. The resort attracts an estimated 1.4 million visitors each year, while the surrounding Southern Georgian Bay area lures 9.1 million visitors and $1 billion in tourism-related revenue annually—much of which is derived from the 6 million residents of the Greater Toronto Area, a two-hour drive southeast.

The anticipated closing date for the acquisition is late February 2013.

"Blue Mountain Village and real estate development is an ideal fit for our organization given Skyline's experience as an owner and manager of other well-known Ontario resort properties such as Deerhurst and Horseshoe Resorts," said Skyline CEO Michael Sneyd. "This acquisition not only makes financial sense and aligns with our long-term growth strategy, but strengthens our market position and creates opportunities for Skyline's continued Canada-wide expansion."

(Additional photos available)

About Skyline International Development Inc.:
A leading Toronto-based developer of hospitality properties and destination communities, Skyline International Development owns over two million square feet of real estate, has over 2,600 acres and nearly 1,300 rooms in its holdings, as well as four Ontario spa outlets, and employs more than 1,500 staff. Its unique asset mix includes a partnership and asset management interest in downtown Toronto's iconic The King Edward Hotel, as well as ownership of, under the Skyline Hotels & Resorts brand, the city's contemporary boutique Cosmopolitan Hotel and Pantages Hotel. Skyline's resort assets include landmark Deerhurst Resort with 45,000 sq. ft. of meeting space lakeside in Muskoka, and Horseshoe Resort, home to Toronto's closest ski area as well as an adventure park. The company is also creating residential destination communities at Deerhurst, Horseshoe and, most extensively, at the historic lakefront of Port McNicoll, Ontario, a restored gateway to the 30,000 Islands, a UNESCO World Biosphere Reserve. In late 2011, the privately owned company raised CDN $27 million in financial institution private equity to fund continued growth and also acquired its first U.S. asset The Cleveland Arcade and Hyatt Regency Cleveland at the Arcade. For more information see www.skylineinvestments.com

SOURCE Skyline International Development Inc.

Image with caption: "Blue Mountain Village - Blue Mountains, Ontario, Canada (CNW Group/Skyline International Development Inc.)". Image available at: http://photos.newswire.ca/images/download/20121227_C3471_PHOTO_EN_22219.jpg

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Apache Hadoop is emerging as a distributed platform for handling large and fast incoming streams of data. Predictive maintenance, supply chain optimization, and Internet-of-Things analysis are examples where Hadoop provides the scalable storage, processing, and analytics platform to gain meaningful insights from granular data that is typically only valuable from a large-scale, aggregate view. One architecture useful for capturing and analyzing streaming data is the Lambda Architecture, represent...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
There are 66 million network cameras capturing terabytes of data. How did factories in Japan improve physical security at the facilities and improve employee productivity? Edge Computing reduces possible kilobytes of data collected per second to only a few kilobytes of data transmitted to the public cloud every day. Data is aggregated and analyzed close to sensors so only intelligent results need to be transmitted to the cloud. Non-essential data is recycled to optimize storage.