Huntsville’s biggest employer is now under a new owner. Toronto-based developer Freed Corp. has closed the sale on Deerhurst Resort.
It comes as part of a $339-million deal with Skyline Investments, which has owned the resort since 2011. The purchase also included Horseshoe Resort in Barrie, development lands at Blue Mountain Resort near Collingwood, and buying out the remaining 65 per cent of Muskoka Bay Resort that was not owned by the company.
That’s according to Imran Jiwa, Freed’s Vice President of Asset & Investment Management.
Jiwa says Freed’s plans for Deerhurst include adding new buildings and amenities to the property, as well as creating new jobs.
“Over the next five years, there’ll be thousands of new units that come online at Deerhurst, and with those will be a significant hotel component, [food and beverage], lifestyle, and expansion to the golf side,” says Jiwa. “There’s going to be a significant drive up in employment in that sector.”
According to Jiwa, Deerhurst currently employs 775 people annually, and once the new units are finished, that’s expected to grow to more than 1,000 staff.
He adds that Freed plans to respect the history and legacy of the 125-year old resort.
“Deerhurst has had a very long history, we admire that, and we just want to grow from there,” says Jiwa.