Toronto based company buys Deerhurst Resort
680News staff
Jan 12, 2011 13:55:00 PM
TORONTO, Ont. - A Toronto based company has purchased the Deerhurst Resort for what is considered a bargain price.
According to the Toronto Star, Skyline International Development is paying $26 million for the 431 room hotel in Huntsville.
It was sold for $21.2 million to Americans in 1998. Since then, more than $60 million has been put into upgrading the property, most of it ahead of last June's G8 meetings.
Deerhurst is one of the largest resorts in Canada.
The deal is expected to close over the next 30 days.