Seven Springs Owners Confirm Acquisition of Nearby Hidden Valley Resort
- Sep 09, 2013
By Adriana Pop, Associate Editor
The owners of Seven Springs Mountain Resort announced they have reached an agreement to purchase the Hidden Valley Resort from The Buncher Company. Terms of the transaction, effective October 1, have not been disclosed.
The approximately 1,200-acre property is located just 13 miles from Seven Springs and includes 29 ski slopes and trails, as well as an 18-hole golf course.
According to CBS Pittsburgh, the Buncher Group purchased the Hidden Valley resort in 2007 for $12.4 million and invested several more millions to renovate the facility.
“We believe we have taken an underutilized and underperforming asset and have restored Hidden Valley’s reputation as one of the premier family resorts in the mid-Atlantic region through strategic improvements, such as the investment in the largest fully automated TechnoAlpin snowmaking installation of its type in the US,” Buncher President Tom Balestrieri said in a press statement.
“We have great respect for The Buncher Company. They have been good stewards of the resort since 2007,” added Bob Nutting, chairman of Seven Springs. “As we have demonstrated with all of our other operations in the region, we are committed to the long-term success of Hidden Valley as a family destination.”
In other news, the Pittsburgh Business Times reports that a partnership between Columbus, Ohio-based Continental Real Estate Cos., the Pittsburgh Steelers and Pittsburgh Pirates has recently celebrated the groundbreaking of a mixed-use development on the city’s North Shore.
Called North Shore Place I and II, the project encompasses two buildings totaling 80,000 square feet of office space and 40,000 square feet of retail. Construction is expected to be complete by summer 2014.
Photo credits: www.thefamilytravelfiles.com