![\"\"](\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2021\/12\/blue-mountain.jpg\")
<\/a>Photo:\u00a0PhotoSerg<\/a> \/ Adobe Stock<\/em><\/p>\nIt\u2019s a done deal \u2014 some of Ontario’s most iconic resort properties have a new owner.<\/p>\n
In a press release issued today<\/a>, Freed Hotels & Resorts\/Resort Communities LP \u2014 a subset of Toronto-based Freed Developments<\/a> \u2014 announced that it has successfully acquired Deerhurst Resort, Horseshoe Resort and the remaining development lands at Blue Mountain Resort in a $330 million acquisition deal. As part of the acquisition, Freed has also \u201crolled in its interest\u201d in Muskoka Bay Resort.<\/p>\n\n The acquisition reportedly makes Freed the largest resort community owner, operator and developer in Canada, according to the press release. Freed Developments is known for its creation of a number of downtown condo projects, including Art Shoppe Lofts<\/a> + Condos and 346 Davenport<\/a>.<\/p>\n In total, Freed\u2019s resort portfolio will encompass 1,000 existing hotel rooms, with plans to bring more than 8,000 new developable units into the Northern Ontario market. Three thousand of those new units would be delivered over the next five years.<\/p>\n “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,\u201d said Peter Freed, founder and CEO of Freed. \u201cThe acquisition of these resorts further stimulates the growth in the hotel and resort sectors for Freed.”<\/p>\n Freed Hotels & Resorts will manage the properties, hoping to employ 2,000 local workers. It\u2019s collection of four-season resort amenities includes seven restaurants, four golf courses, trails, cross-country and downhill skiing areas and a variety of waterfront activities.<\/p>\n With Deerhurst Resort having celebrated its 125th anniversary this year, Freed Hotels & Resorts says that it will work to preserve the landmark site\u2019s rich history as a tourist destination.<\/p>\n \u201cFreed Hotels & Resorts is committed to building upon this legacy with the development of its newly acquired resort portfolio by bringing modern design and world-class hospitality and lifestyle experiences to the north,\u201d said the press release.<\/p>\n<\/a>Image: Freed Developments<\/em><\/p>\n