TORONTO — Freed Hotels & Resorts has closed the $330-million acquisition of Ontario Resort Properties, including Deerhurst Resort, Horseshoe Resort and the remaining development lands at Blue Mountain Resort. As part of its land acquisition, Freed has gained interest in Muskoka Bay Resort as well.
Collectively, Freed’s portfolio will include more than 1,000 hotel rooms and employ more than 2,000 people locally. Looking ahead, Freed is projecting to bring more than 8,000 new developable units to the Northern Ontario market, with 3,000 being delivered over the next five years.
Furthermore, Freed Hotels & Resorts now offers a range of amenities for guests and residents, including seven restaurants, four golf courses, summer and winter waterfront activities, ski hills, hiking trails and other unique activities.
“The acquisition of these iconic resort properties will allow us to execute our strategy of modernizing the traditional resort community market to the highest and best use through design-driven development and world-class amenities with all-season access,” says Peter Freed, founder and CEO, Freed Hotels & Resorts. “The acquisition of these resorts further stimulates the growth in the hotel and resort sectors for Freed.”