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Trustee orders sale of Peek 'n Peak Resort & Spa

Mon, Jul 18th 2011 12:00 am

By JAMES FINK
jfink@bizjournals.com | 716-541-1611

A U.S. Bankruptcy Court-appointed trustee for Peek 'n Peak Resort & Spa has retained a national real estate expert to sell the Southern Tier facility.

Chicago-based Jones Lang LaSalle Hotels set a deadline of Aug. 5 for offers for the Chautauqua County resort. They were retained by Cleveland-based bankruptcy attorney David Simon, who recently was named trustee.

The owner of Peek 'n Peak - developer Paul Kiebler IV of the Cleveland suburb of Chardon - filed for Chapter 11 protection through his Kiebler Recreation affiliate. The resort remains open, however.

Mark von Dwingelo, senior vice president of Jones Lang LaSalle, said the sale is operating under "an accelerated time frame."

"Offered at a discount to replacement cost, this acquisition offers investors the rare opportunity to acquire nearly 1,100 acres of highly desirable land and benefit from numerous value enhancements opportunities and upside potential," von Dwingelo said in a statement.

He said Peek 'n Peak had revenues last year of more than $15 million. It includes a 27-run ski resort, 107-room hotel, two golf courses, a spa and several on-site restaurants.